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Solution of Q 57 Share Capital TS Grewal 2023-24 [CBSE]

Question 57 of 104Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 57, 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 57

Sunshine Industries Ltd. issued 20,000 shares of ₹ 100 each payable ₹ 25 per share on application, ₹ 25 per share on allotment and the balance in two calls of ₹ 25 each. The company did not make the final call of ₹ 25 per share. All the money was duly received with the exception of the amount due on the first call on 400 shares held by Mr. Modi. The Board of Directors forfeited these shares and subsequently reissued them @ ₹ 75 per share paid-up for a sum of ₹ 28,000.

Journalise the above transactions and prepare Share Capital Account.

TS Grewal Class 12 Issue of Shares Question 57

Solution

Solution of Q 57 Issue of Shares TS Grewal 2023-24 part 1
Solution of Q 57 Issue of Shares TS Grewal 2023-24 part 2
Stuck on this chapter?Watch it explained in the Class 12 Accounts video courseEvery chapter, step by step, by Vijay Adarsh (23 years teaching).Watch free demo
Solution of Q 57 Issue of Shares TS Grewal 2023-24 part 3
Solution of Q 57 Issue of Shares TS Grewal 2023-24 part 4
Solution of Q 57 Issue of Shares TS Grewal 2023-24 part 5
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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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