Q.90 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 90, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 90
Healthy Foods Ltd. had authorised capital of ₹ 50,00,000, 5,00,000 equity shares of ₹ 10 each issued 3,75,000 equity shares for subscription at a premium of 20% payable ₹ 4 on application, ₹ 5 on allotment and balance as first and final call. The shares were subscribed, and due amounts were received except allotment money on 25,000 shares. These shares were forfeited. Later these shares were reissued at ₹ 7 paid-up and ₹ 50,000 were transferred to Capital Reserve. First and final call was demanded from the shareholders and was received except on 10,000 which was transferred to Calls-in-Arrears Account.
Pass the Journal entries for forfeiture, reissue of forfeited shares and first and final call.
Solution
All questions of Chapter 8
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About this solution
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