Solution of Q 70 Share Capital TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 70, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 70
Kwality Hospitality Ltd. incorporated with authorised capital of ₹ 10,00,000, 1,00,000 equity shares of ₹ 10 each, issued 50,000 equity shares for subscription payable ₹ 4 on application, ₹ 3 on allotment and balance as first and final call. The shares were subscribed, and due amounts were received except first and final call on 4,000 shares. These shares were forfeited. Later, half the shares were reissued as fully paid-up and ₹ 4,000 were transferred to Capital Reserve.
Pass the Journal entry for reissue of shares.
Solution
All questions of Chapter 8
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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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