[ISC] Q. 59 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 59 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

A company forfeited 100 shares of ₹ 10 each, issued at a premium of ₹ 2 per share. The shareholders had paid ₹ 4 per share on application but did not pay the allotment money of ₹ 4 per share and call of ₹ 4 per share. The shares were subsequently reissued @ ₹ 11 per share fully paid.

Pass Journal entries for forfeiture and reissue of forfeited shares.

Solution:-

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

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