DK Goel Solutions Q 40 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 40, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 40
Pass journal entries for the forfeiture and re-issue in the following cases :
- (a) X Ltd. forfeited 700 shares of Ashok of ₹ 10 each ₹ 8 called-up, on which he had paid ₹ 5 per share. Out of these, 500 shares were re-issued for ₹ 9 per share as fully paid.
- (b) Y Ltd. forfeited 400 shares of ₹ 10 each, ₹ 6 called-up, for non-payment of first call of ₹ 2 per share. Out of these, 300 shares were immediately re-issued at ₹ 5 per share.
- (c) Z Ltd. forfeited 300 shares of ₹ 100 each on which first call of ₹ 20 per share was not received, the second and final call of ₹ 30 per share has not yet been called. Out of these, 200 shares were re-issued as ₹ 70 paid-up for ₹ 55 per share.
Solution
All questions of Chapter 6
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About this solution
This is Chapter 6 Accounting for Companies – Issue of Shares of DK Goel For 2024 Examinations.
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 the Accountancy Board Exam.
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