Q.70 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 70, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 70
Show the forfeiture and reissue entries under each of the following cases:
- (i) KBC Ltd. forfeited 300 shares of ₹ 10 each, ₹ 8 called-up held by Amit for non-payment of second call money of ₹ 3 per share. These shares were reissued to Zoly for ₹ 10 per share as fully paid-up.
- (ii) KK Ltd. forfeited 400 shares of ₹ 10 each, fully called-up, held by Bhawna for non-payment of final call money of ₹ 4 per share. These shares were reissued to Tarun at ₹ 12 per share as fully paid-up.
- (iii) Light Ltd. forfeited 250 shares of ₹ 10 each, fully called-up, held by Chetan for non-payment of allotment money of ₹ 3 per share and first and final call money of ₹ 4 per share. These shares were reissued @ ₹ 8 per share as fully paid-up to Prem.
Solution
All questions of Chapter 8
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About this solution
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