[CBSE] Q. 68 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 68 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Star Ltd. forfeited 500 Equity Shares of ₹ 100 each for non-payment of first call of ₹ 30 per share. The final call of ₹ 10 per share was not yet made. Out of these, 60% shares were reissued for ₹ 39,000 fully paid. Journalise the forfeiture and reissue of shares.

[Ans.: Capita Reserve – ₹ 18,000.]

Solution:-

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