Q 92 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 92 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

X Ltd. forfeited 800 shares of ₹ 20 each issued at a premium of ₹ 2 per share to Mahesh (₹ 18 called-up) on which he did not pay first call of ₹ 4. Of these, 300 shares were re-issued @ ₹ 15 per share as ₹ 18 paid-up. Journalise.

[Ans. Capital Reserve ₹ 3,300.]

Solution:-