Q.56 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 56, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 56
Star Ltd. issued 10,000 shares of ₹ 10 each, payable as ₹ 4 on application, ₹ 3 on allotment, ₹ 2 on first call and balance on second and final call.
500 shares were forfeited. Calculate the ‘Maximum Permissible Discount’ and ‘Minimum Reissue Price’ on reissue in each of the following cases, if the reissued shares are fully paid-up:
Case 1. If shares were forfeited for non-payment of Second and Final Call.
Case 2. If shares were forfeited for non-payment of First Call and Second and Final Call.
Case 3. If shares were forfeited for non-payment of Allotment, First Call and Second and Final Call.
Case 4. If shares were forfeited for non-payment of Allotment and First Call. Second and Final Call is not yet made.
Solution
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