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[ISC] Q. 48 Solution of Share Capital TS Grewal ISC 2023-24 Edition

Question 48 of 79Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 48, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 48

Pass Journal entries in the following cases:

  1. (a) Ebony Limited forfeited 100 shares of ₹ 10 each issued at par to Mahesh on which he had paid ₹ 2 per share. Out of these 80 shares were reissued @ ₹ 6 per share to Suresh, ₹ 8 paid-up.
  2. (b) Vatika Businesses Ltd. forfeited 20 shares of ₹ 10 each (₹ 7 called-up), issued at par to Meena on which she had paid ₹ 2 per share. Out of these, 18 shares were reissued to Neeta as ₹ 7 called-up for ₹ 6 per share. Give Journal entries to record forfeiture and reissue of shares.
TS Grewal Class 12 Issue of Share Capital Question 48

Solution

Solution of Q 48 Issue of Share Capital TS Grewal 2023-24 part 1
Solution of Q 48 Issue of Share Capital TS Grewal 2023-24 part 2
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Solution of Q 48 Issue of Share Capital TS Grewal 2023-24 part 3
Solution of Q 48 Issue of Share Capital TS Grewal 2023-24 part 4
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About this solution

This is Chapter 7 Issue of Shares of ISC TS Grewal Edition 2023-24.

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 Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.

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