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Solution of Q 65 Share Capital TS Grewal 2023-24 [CBSE]

Question 65 of 104Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 65, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.

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Question 65

Record the Journal entries for forfeiture and reissue of shares in the following cases:

  1. (i) Basak Ltd. forfeited 20 shares of ₹ 10 each, ₹ 7 called-up on which the shareholder had paid application and allotment money of ₹ 5 per share. Out of these, 15 shares were reissued to Naresh as ₹ 7 per share paid-up for ₹ 8 per share.
  2. (ii) Y Ltd. forfeited 90 shares of ₹ 10 each, ₹ 8 called-up issued at a premium of ₹ 2 per share to ‘R’ for non-payment of allotment money of ₹ 5 per share (including premium). Out of these, 80 shares were reissued to Sanjay as ₹ 8 called-up for ₹ 10 per share.
TS Grewal Class 12 Issue of Shares Question 65

Solution

Solution of Q 65 Issue of Shares TS Grewal 2023-24 part 1
Solution of Q 65 Issue of Shares TS Grewal 2023-24 part 2
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Solution of Q 65 Issue of Shares TS Grewal 2023-24 part 3
Solution of Q 65 Issue of Shares TS Grewal 2023-24 part 4
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About this solution

This is Chapter 8 Share Capital of TS Grewal Edition 2023-24.

Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.

We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.

Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.

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