[ISC] Q. 46 Solution of Share Capital TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 46, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 46
Homemakers Ltd. issued 10,000 Equity Shares of ₹ 10 each, payable ₹ 3 on application, ₹ 3 on allotment and the balance by two calls. All the calls were duly made and the amount so realised with the exception of the following:
- (i) Simran holding 100 shares did not pay the amount due on first call; and
- (ii) Aqsa holding 100 shares did not pay the amount due on final call.
All the shares were forfeited and reissued only 150 shares (all of Simran and balance of Aqsa) to Ayush @ ₹ 8 per share. Show forfeiture and reissue entries.
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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