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Q.59 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE

Question 59 of 110Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 59, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.

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Question 59

What amount of gain on reissue will be transferred to Capital Reserve under following situations?

  1. (i) 3,000 shares of ₹ 10 each of Rakesh were forfeited by crediting ₹ 5,000 to Forfeited Shares Account. Out of these, 1,800 shares were reissued to Mohan for ₹ 9 per share as fully paid-up.
  2. (ii) Z Ltd. forfeited 20 shares of ₹ 100 each (₹ 60 called-up) issued at par to Shiv on which he paid ₹ 20 per share. Out of these, 15 shares were reissued to Rajesh as ₹ 60 paid-up for ₹ 45 per share.
TS Grewal Class 12 Issue of Shares Question 59

Solution

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About this solution

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