[CBSE] Q. 73 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 73 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition CBSE Board?’

‘Telecom Ltd; issued 20,000 Equity Shares of ₹ 10 each at a premium of ₹ 5 per share, payable as:₹ 7 (including premium ) on application,₹ 5 on allotment and the balance after three months of allotment.

A shareholder to whom 200 shares were allotted failed to play the allotmant and call money and his shares were forfeited.160 of the forfeited shares were reissued for ₹ 1,600.

Give necessary entries in company’s Journal and the Balance Sheet.

[Ans.: Balance of Forfeited Shares A/c-₹ 80; Capital Reserve-₹ 320; Balance Sheet Total-₹ 3,00,000.]

Solution:-

Issue of Share chapter Solutions of TS Grewal Class 12 Accountancy CBSE 2022-23

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