DK Goel Solutions Q 46 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 46, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 46
Give journal entries for forfeiture and re-issue of shares :
- (a) X Ltd. forfeited 500 shares of ₹ 100 each, ₹ 75 called-up, issued at 10% premium (to be paid at the time of allotment) for non-payment of a first call of ₹ 20 per share. Out of these, 200 shares were re-issued as ₹ 75 paid-up for ₹ 60 per share.
- (b) X Ltd. forfeited 300 shares of ₹ 100 each, ₹ 75 called-up, issued at 10% premium (to be paid at the time of allotment) for non-payment of allotment money of ₹ 30 per share (including premium) and first call of ₹ 20 per share. Out of these, 100 shares were re-issued as fully paid-up in such a way that ₹ 3,100 were transferred to capital reserve.
Solution
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About this solution
This is Chapter 6 Accounting for Companies – Issue of Shares of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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