Q.50 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 50, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 50
Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.
Ganesh was allotted 100 shares. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases:
Case 1. If Ganesh did not pay the allotment money and his shares were forfeited.
Case 2. If Ganesh did not pay allotment money and on his subsequent failure to pay the first call, his shares were forfeited.
Case 3. If Ganesh did not pay the first call and on his subsequent failure to pay the second and final call, his shares were forfeited.
Solution
All questions of Chapter 8
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About this solution
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