[CBSE] Q. 90 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)

The solution to Question number 90 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board

JCV Ltd. forfeited 200 shares of ₹ 10 each issued at a premium of ₹ 2 per share for the non-payment of allotment money of ₹ 3 per share (including premium). The first and final call of ₹ 4 per share has not been made as yet. 50% of the forfeited shares were reissued at ₹ 8 per share as fully paid-up. Pass necessary Journal entries for the forfeiture and reissue of shares.

[Ans.: Capital Reserve – ₹ 300.]

Solution:-