Question 45 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 45 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 4 Min Read December 20, 2020

Question No.45. - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 45 Chapter 8 of +2-A

Table of Contents

The solution of Question 45 Chapter 8 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

45.X ltd. Forfeited 900 shares of Rs 100 each for the non-payment of all allotment money of Rs 30 per share and the first call of Rs 20 per share .the second and final call of Rs 25 per share has not been made. The forfeited shares were reissued for Rs 90 per share, Rs 75 paid up.
Journalise the above.

The solution of Question 45 Chapter 8 of +2-A: –


Particulars		L.F.	Debit	Credit
Share capital A/c	Dr		67,500
To Share allotment call. A/c				27,000
To Share first call A/c				18,000
To forfeited shares A/c				22,500
(Being share forfeited )
Bank A/c	Dr		81,000
To Share capital A/c				67,500
To Share capital premium A/c				13,500
(Being forfeited share reissue )
Forfeited share A/c	Dr		22,500
To capital Reserve A/c				22,500
(Being the gain on reissue transferred to capital reserve )