Q 98 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 98 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Z Ltd. forfeited 700 shares of ₹ 100 each, issued at a premium of 30% to Ghanshyam on which he had paid application money of ₹ 35 per share, for non-payment of allotment money of ₹ 50 per share (including premium) and first call of ₹ 15 per share. Out of these, 400 shares were re-issued as ₹ 70 paid-up in such a way that ₹ 12,000 were transferred to Capital Reserve. Journalise.

[Ans. Reissue Price ₹ 65 per share.]

Solution:-