[CBSE] Q. 79 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 79 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Grofers Ltd having authorised capital of ₹ 25,00,000, issued 2,00,000 equity shares of ₹ 10 each for subscription payable ₹ 4 on application, ₹ 3 on allotment and balance on first and final call. The shares were subscribed, and due amounts were received exceept first and final call on 4,000 shares held by Rana. These shares were forfeited. Later, half the shares were reissued as fully paid-up and ₹ 14,000 were transferred to Capital Reserve. Pass the Journal entry for forfeiture and reissue of shares.

Solution:-

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