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

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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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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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