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Solution of Q 50 Share Capital TS Grewal 2023-24 [CBSE]

Question 50 of 104Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 50, 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 50

Determine the maximum permissible discount and minimum reissue price that a company can allow at the time of reissue of forfeited shares in the following cases:

  1. (i) A share of ₹ 10 originally issued at par on which application and allotment money of ₹ 5 was received.
  2. (ii) A share of ₹ 10 originally issued at a premium of ₹ 1 on which application and allotment money (including premium) of ₹ 5 was received.
  3. (iii) A share of ₹ 10 originally issued at a premium of ₹ 1 on which application and allotment money (excluding premium) of ₹ 5 was received.
TS Grewal Class 12 Issue of Shares Question 50

Solution

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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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