Solution of Q 58 Share Capital TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 58, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 58
R.P. Ltd. forfeited 1,500 shares of Rahim of ₹ 10 each issued at a premium of ₹ 3 per share for non-payment of allotment and first call money. Rahim had applied for 3,000 shares. On these shares, amount was payable as follows:
On Application ₹ 3 per share,
On Allotment (including premium) ₹ 5 per share,
On First Call ₹ 3 per share,
On Final Call Balance.
Final call has not been called up. 1,000 of the forfeited shares were reissued for ₹ 8,500 as fully paid-up.
Record the necessary Journal entries for the above transactions in the books of R.P. Ltd.
Solution
⏳ The solution of this question will be added soon. Meanwhile, ask your doubt to Vijay Sir in the comment box below.
All questions of Chapter 8
Orange = this question · Grey = already opened.
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.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.