[CBSE] Q. 88 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 88 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 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:-
