Question 52 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 52 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 5 Min Read December 20, 2020

Question No.52. - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 52 Chapter 8 of +2-A

Table of Contents

The solution of Question 52 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)

52. Bee ltd. The company forfeited 100 equity shares of the face value of 10 each, Rs 6 per share called-up, for non-payment of the first call of Rs 2 per share. These forfeited shares were subsequently reissued as fully paid-up @7 each.
Give necessary journal entries relating to forfeiture and reissue of shares.

The solution of Question 52 Chapter 8 of +2-A: –


Date	Particulars		L.F.	Debit	Credit
	Share capital A/c	Dr		600
	To Share second and final call A/c				400
	To forfeited shares A/c				200
	(Being share forfeited )
	Bank A/c	Dr		700
	Share forfeiture A/c	Dr		300
	To Share capital A/c				1,000
	(Being forfeited share reissue )
	Forfeited share A/c	Dr		100
	To capital Reserve A/c				100
	(Being the gain on reissue transferred to capital reserve )

Particulars	Details	Amount
Calculation of capital reserve

Share Forfeiture (Cr.)		400

Less: Share Forfeiture Debit		(300)


Balance in Share Forfeiture A/c		100