The solution to Question number 74 of the Accounting for Share Capital chapter of TS Grewal Book 2025-26 Edition
Rekha hold 100 shares of ₹ 10 each on which she has paid ₹ 1 per share on application.
Sunita holds 200 shares of ₹ 10 each on which she has paid ₹ 1 and ₹ 2 per share on application and allotment respectively.
Teena holds 300 sahres of ₹ 10 each and has paid ₹ 1 on application, ₹ 2 on allotment and ₹ 3 on first call.
They all fail to pay their arrears and the second call of ₹ 4 per share. Shares are forfeited and subsequently reissued @ ₹ 11 per share as fully paid-up.
Journalise the above.
[Ans.: Capital Reserve – ₹ 2,500.]
Solution:-
