[CBSE] Q. 63 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

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The solution to Question number 63 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

On 1st May, 2022, Moneyplus Ltd. forfeited 200 shares of ₹ 20 each, ₹ 15 per share called-up, on which ₹ 10 per share has been paid by A, the amount of the first call of ₹ 5 per share being unpaid. Ten days later, the Directors reissued the forfeited shares to B credited as ₹ 15 per share paid-up, for a payment of ₹ 10 per share.

Give Journal entries in the company’s books to record the forfeited shares and their reissue.

[Ans.: Capital Reserve – ₹ 1,000.]

Solution:-

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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