Q 84 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Share your love

Solution of Question number 84 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Q. 84 (A). Virender Limited forfeited 400 shares of ₹ 100 each (₹ 60 called-up) issued at par to Mukesh on which he had paid ₹ 25 per share. Out of these, 300 shares were re-issued to Sanjeev as ₹ 60 paid-up for ₹ 45 per share. Pass entries for forfeiture and re-issue of shares.

(B). The Directors of Devendra Ltd. resolved on 1st April, 2023 that 1,000 equity shares of ₹ 10 each, ₹ 8 per share called-up be forfeited for non-payment of first call of ₹ 2 per share. On 1st May, 2023, 600 of these shares were re-issued at ₹ 7 per share fully paid-up. Pass entries for forfeiture and re-issue of shares.

[Ans. (A) Capital Reserve ₹ 3,000. (B) Capital Reserve ₹ 1,800.]

Solution:-

Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 7685

Leave a Reply

Your email address will not be published. Required fields are marked *

x