[ISC] Q. 44 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 44 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Goodwill Trading Co. Ltd. had issued share capital of ₹ 1,40,000 on Equity Shares of ₹ 100 each, on which ₹ 75 per share was called and paid. When the final call of ₹ 25 per share was made, all the shareholders paid their money in full except two shareholders, one holding 200 shares and the other 100 shares. These shares were forfeited indue course and were reissued to a new shareholder who paid ₹ 50 for each share.

You are required to give Journal entries recording the above transactions in the books of the company.

Solution:-

Issue of Share chapter Solutions of TS Grewal Class 12 Accountancy ISC 2022-23

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