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Solution of Q 45 Share Capital TS Grewal 2023-24 [CBSE]

Question 45 of 104Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 45, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.

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Question 45

Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.

Ganesh was allotted 100 shares. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases:

  1. Case 1. If Ganesh failed to pay the allotment money and his shares were immediately forfeited.
  2. Case 2. If Ganesh failed to pay allotment money and on his subsequent failure to pay the first call, his shares were forfeited.
  3. Case 3. If Ganesh failed to pay the first call and on his subsequent failure to pay the second and final call, his shares were forfeited.
TS Grewal Class 12 Issue of Shares Question 45 part 1
TS Grewal Class 12 Issue of Shares Question 45 part 2

Solution

Solution of Q 45 Issue of Shares TS Grewal 2023-24 part 1
Solution of Q 45 Issue of Shares TS Grewal 2023-24 part 2
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About this solution

This is Chapter 8 Share Capital of 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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.

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