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Solution of Q 54 Share Capital TS Grewal 2023-24 [CBSE]

Question 54 of 104Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 54, 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 54

Max Ltd. forfeited 500 shares of ₹ 100 each for non-payment of first call of ₹ 20 per share and final call of ₹ 25 per share. 250 of these shares were re-issued at ₹ 50 per share fully paid-up.

Pass the necessary Journal entries in the books of Max Ltd. for forfeiture and re-issue of shares. Also, prepare the Share Forfeiture Account.

TS Grewal Class 12 Issue of Shares Question 54

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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