[ISC] Q. 65 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

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Solution to Question number 65 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

National Chemicals Ltd. forfeited 500 shares of ₹ 100 each issued at 10% premium (to bepaid at the time of allotment) on which the first call of ₹ 30 per share was not received, the second and the final call of ₹ 20 per share was not yet called.

Give Journal entries regarding the forfeiture and reissue of shares in each of the following alternative cases:

Case 1:

If 200 of these shres were reissued at ₹ 80 paid-up for ₹ 90 per share.

Case 2:

If 200 of these shares were reissued at ₹ 80 called-up for ₹ 90 per share.

Case 3:

If 200 of these shares were reissued at ₹ 80 paid-up for ₹ 70 per share.

Case 4:

If 200 of these shares were reissued at ₹ 80 paid-up for ₹ 30 per share.

Solution:-

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

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Anurag Pathak

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