[CBSE] Q. 75 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 75 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

The Directors of a company forfeited 300 shares of ₹ 10 each issued at a premium of ₹ 3 per share, for the nonpayment of the first call money of ₹ 2 per share. The final call of ₹ 2 per share has not been made. Half the forfeited shares were reissued at ₹ 1,500 as fully paid-up. Record the Journal entries for the forfeiture and reissue of shares.

[Ans.; Capital Reserve – ₹ 900.]

Solution:-