Скачать или смотреть Accounting for Share Capital – Chapter 8 | TS Grewal | Class 12 Accounts | CBSE 2026 | Question-77

Welcome to our detailed question-wise explanation of Chapter 8: Accounting for Share Capital from the TS Grewal book, designed for Class 12 CBSE 2026 students.
In this video, we cover question 77 step-by-step to help you understand the concepts clearly and score full marks in your board exams!

🔍 What you'll learn:
✅ Issue of Shares for Cash
✅ Over-subscription & Pro-rata Allotment
✅ Forfeiture & Reissue of Shares
✅ Journal Entries & Practical Questions
✅ Easy Tricks to Remember Formats

📚 Based on the latest CBSE 2026 syllabus and TS Grewal (Accounting for Companies) textbook.

📌 Stay tuned for full chapter coverage – question by question!

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7. Slow & Steady Ltd. invited applications for allotment of 10,000 Equity Shares of & 10 each from public. The amount of these shares was payable as:
On application ? 1 per share, on allotment ? 2 per share, on first call & 3 per share and on second and final call Z 4 per share.
Amounts payable on application, allotment and calls were duly received with the following exceptions:
(i) A, who held 200 shares, failed to pay the money on allotment and calls. (ii) B, to whom 150 shares were allotted, failed to pay the money on first call and final call. (ii) C, who held 50 shares, did not pay the amount of second and final call.
The shares of A, B and C were forfeited and were subsequently reissued for cash as fully paid-up at a discount of 5%.
Pass necessary Journal entries to record these transactions in the books of the company.
[Ans.:750 capital reserve]