[ISC] Q. 76 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 76 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

(a) C4T Ltd. forfeited 200 Equity Shares of ₹ 10 each issued at a premium of ₹ 5 per share, held by Shyam for non-payment of allotment money of ₹ 8 per share (including share premium ₹ 5 per share), first call of ₹ 2 per share and final call of ₹ 3 per share. Out of these, 125 Equity Shares were reissued to Bhajanlal @ ₹ 9 per share as fully paid-up.

(b) Vatika Business Ltd. forfeited 20 shares of ₹ 10 each (₹ 7 called-up), issued at par to Meena on which she had paid ₹ 2 per share. Out of these, 18 shares were reissued to Neeta as ₹ 7 called-up for ₹ 6 per share. Give Journal entries to record forfeiture and reissue of shares.

Solution:-

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

Let’s Practice

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