[ISC] Q. 45 Solution of Share Capital TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 45, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 45
Goodwill Trading Co. Ltd. had issued share capital of ₹ 1,40,000 in Equity Shares of ₹ 100 each, on which ₹ 75 per share was called and paid. When the final call of ₹ 25 per share was made, all the shareholders paid their money in full except two shareholders, one holding 200 shares and the other 100 shares. These shares were forfeited in due course and were reissued to a new shareholder who paid ₹ 50 for each share.
You are required to give Journal entries recording the above transactions in the books of the company.
Solution
All questions of Chapter 7
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About this solution
This is Chapter 7 Issue of Shares of ISC 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 Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.
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