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Q.72 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE

Question 72 of 110Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 72, 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 72

Record the Journal entries for forfeiture and reissue of shares in the following cases:

  1. (i) Basak Ltd. forfeited 20 shares of ₹ 10 each, ₹ 7 called-up on which the shareholder had paid application and allotment money of ₹ 5 per share. Out of these, 15 shares were reissued to Naresh as ₹ 7 per share paid-up for ₹ 8 per share.
  2. (ii) Y Ltd. forfeited 90 shares of ₹ 10 each, ₹ 8 called-up issued at a premium of ₹ 2 per share to ‘R’ for non-payment of allotment money of ₹ 5 per share (including premium). Out of these, 80 shares were reissued to Sanjay as ₹ 8 called-up for ₹ 10 per share.
TS Grewal Class 12 Issue of Shares Question 72

Solution

Solution of Q 72 Issue of Shares TS Grewal 2024-25 part 1
Solution of Q 72 Issue of Shares TS Grewal 2024-25 part 2
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Solution of Q 72 Issue of Shares TS Grewal 2024-25 part 3
Solution of Q 72 Issue of Shares TS Grewal 2024-25 part 4
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About this solution

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