Question 46 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 46 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 5 Min Read December 20, 2020

Question No.46. - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 46 Chapter 8 of +2-A

Table of Contents

The solution of Question 46 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)

46. The director of M ltd. Resolved on 1st may, 2015 that 2,000 equity shares of 10 each, Rs 7.50 paid to be forfeited for non-payment of final call of Rs 2.50. On 10th June 2015, 1800 of these shares were reissued for Rs 6 per share. Give necessary journal entries.

The solution of Question 46 Chapter 8 of +2-A: –


Date	Particulars		L.F.	Debit	Credit
1st May,15	Share capital A/c	Dr		20,000
	To Share first call A/c				5,000
	To forfeited shares A/c				15,000
	(Being share forfeited )
10th June,15	Bank A/c	Dr		10,800
	Share forfeiture A/c	Dr		7,200
	To Share capital A/c				18,000
	(Being forfeited share reissue )
	Forfeited share A/c	Dr		6,300
	To capital Reserve A/c				6,300
	(Being the gain on reissue transferred to capital reserve )

Particulars	Details	Amount
Calculation of capital reserve

Share Forfeiture (Cr.)		13,500

Less: Share Forfeiture Debit		(7200)


Balance in Share Forfeiture A/c		6300