[CBSE] Q. 64 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 64 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

The Directors of Maharashtra Ltd. resolved on 1st May, 2020 that 2,000 Equity Shares of ₹ 10 each, ₹ 7.50 paid be forfeited for non-payment of final call of ₹ 2.50. On 10th June, 2020, 1,800 of these shares were reissued for ₹ 6 per share. Give necessary Journal entries. Give necessary Journal entries.

[Ans.: Capital Reserve – ₹ 6,300.]

Solution:-

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