The solution to Question number 71 of the Accounting for Share Capital chapter of TS Grewal Book 2025-26 Edition
Star Ltd. forfeited 500 Equity Shares of ₹ 100 each for non-payment of first call of ₹ 30 per share. The final call of ₹ 10 per share was not yet made. Out of these, 60% shares were reissued for ₹ 39,000 fully paid. Journalise the forfeiture and reissue of shares.
[Ans.: Capita Reserve – ₹ 18,000.]
Solution:-
