[ISC] Q. 49 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 49 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Tata Ltd. having an authorised capital of ₹ 20,00,000 in shares of ₹ 100 each invited applications for 10,000 shares payable as follows:

On Application	₹ 20;
On Allotment	₹ 30;
On First Call	₹ 25;
On Final Call	₹ 25;

The company received applications for 12,000 shares. Applications for 10,000 shares were accepted in full and the money on the applications rejected was returned.

All the moneys due as stated above were received with the exception of the final call on 250 shares. Half of these shares were forfeited and reissued as fully paid @ ₹ 90 per share.

Pass necessary Journal entries and show the Share Capital Account will stand in Balance Sheet.

Solution:-

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

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