[CBSE] Q. 86 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 86 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board
150 shares of ₹ 10 each issued at a premium of ₹ 4 per share payable with allotment were forfeited for non-payment of allotment money of ₹ 8 per share including premium. The first and final call of ₹ 4 per share was not made. The forfeited shares were reissued at ₹ 15 per share fully paid-up.
Pass Journal entries in the books of X Ltd. for the above.
[Ans.: Capital Reserve – ₹ 300.]
Solution:-
