[ISC] Q. 53 Accounting for Share Capital Solution TS Grewal Class 12 (2023-24)
Solution to Question number 53 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition ISC Board?
Wye Ltd. issued 20,000 shares of ₹ 20 each payable as follows:
| ₹ | |
| On application | 4 |
| On Allotment | 4 |
| On First Call | 6 |
| On Second and Final Call | 6 |
All the moneys were received except the following:
Bikash; 500 shares, has not paid the allotment, the first call and the final call.
Bikram; 300 shares, has not paid the first call and the final call.
Charnesh; 200 shares, has not paid the final call.
All the above shares were forfeited and reissued in the following manner:
Shares of Bikash @ ₹ 18 per share, Shares of Bikram @ ₹ 16 per share, and Shares of Charnesh @ ₹ 15 per share.
Pass Journal entries regarding the forfeiture and reissue of Shares.
Solution:-
Let’s Practice
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| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
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| 10 | Question – 10 |
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| 11 | Question – 11 |
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| 61 | Question – 61 |
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| 71 | Question – 71 |
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| 75 | Question – 75 |
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| 79 | Question – 79 |
