[CBSE] Q. 87 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 87 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board
Sierra Ltd. forfeited 500 shares of ₹ 10 each, issued at a premium of ₹ 2 per share (payable with allotment) for non-payment of allotment money of ₹ 5 per share (including premium). The first and final call of ₹ 3 per share was not made. All the forfeited shares were reissued at ₹ 11 per share, fully paid-up.
Pass Journal entries, for forfeiture and reissue of shares.
[Ans. Capital Reserve – ₹ 2,000.]
Solution:-
