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Solution of Q 51 Share Capital TS Grewal 2023-24 [CBSE]

Question 51 of 104Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 51, 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 51

What amount of gain on reissue will be transferred to Capital Reserve under following situations?

  1. (i) 3,000 shares of ₹ 10 each of Rakesh were forfeited by crediting ₹ 5,000 to Forfeited Shares Account. Out of these, 1,800 shares were reissued to Mohan for ₹ 9 per share as fully paid-up.
  2. (ii) Z Ltd. forfeited 20 shares of ₹ 100 each (₹ 60 called-up) issued at par to Shiv on which he paid ₹ 20 per share. Out of these, 15 shares were reissued to Rajesh as ₹ 60 paid-up for ₹ 45 per share.
TS Grewal Class 12 Issue of Shares Question 51

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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