[CBSE] Q. 74 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 74 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition CBSE Board?

Healthy Foods Ltd. had authourised capital of ₹ 50,00 000,5,00,000 equity shares of ₹ 10 each issued 3,75,000 equity shares for subscription at a premium of 20% payable ₹ 4 on application, ₹ 5 allotment and balance as first and final call.The shares were subscribed, and due amount were received except allotment money on 25,000 shares. These were forfeited.Later these shares were reissued at ₹ 7 paid-up and ₹ 50,000 were transferred to Capital Reserve.First and Final call was demanded from the shareholders and was received except on 10,000 which was transferred to calls-in-Arrears Account.

Pass the Journal entries for forfeiture, reissue of forfeited shares and first and final call.

[Ans.: Amount received on reissue of shares-₹ 1,25,000.]

Solution:-

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

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