CBSE Class 12 Accountancy Forfeiture and Reissue of Shares Assignment

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Access comprehensive school assignments for Part 2 Chapter 01 Accounting For Share Capital using the CBSE Class 12 Accountancy Forfeiture and Reissue of Shares Assignment. Designed to align with the 2026-27 CBSE academic guidelines, these practice sets help Class 12 Accountancy students reinforce core concepts and improve their problem-solving accuracy.

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Q. 1 Ak Ltd. forfeited 300 shares of ₹ 10 each, fully called up, held by Ram for non-payment of allotment money of ₹ 3 per share and final call money of ₹ 4 per share. Out of these shares 250 were re-issued to Shyam for a total payment of ₹ 2,000. Give Journal entries for forfeiture and re-issue.
Ans : Capital Reserve ₹ 250
 
Q. 2 A limited Company forfeited 100 equity shares of the face value of ₹ 10 each, ₹ 6 per share called up, for non payment of first call of ₹ 2 per share. The forfeited shares were subsequently re-issued as fully paid @ ₹ 7 each. Give necessary entries in company's Journal.
Ans : Capital Reserve ₹ 100
 
Q. 3 1,000 shares of ₹ 10 each issued at par were forfeited for the non payment of the final call of ₹ 2 per share. These shares were re-issued @ ₹ 8 per share fully paid up. Journalise the forfeiture and re-issue of shares.
Ans : Capital Reserve ₹ 6,000
 
Q. 4 Taxneco Limited had issued capital of 2,00,000 Equity shares of ₹ 20 each, on which ₹ 17.50 per share has been called-up. calls-in-arrears in respect of 200 shares held by P amounted to ₹ 1,000 on September 30, 2012. By a resolution of the Board of Director dated the October 10, 2012, these 200 shares were forfeited and reissued at ₹ 12.50 per share paid in consideration of ₹ 2,000 and immediate payment of ₹ 5 per share in cash to make them ₹ 17.50 per share paid-up. Record Journal entries in the books of Taxneco Limited to record the above.
Ans : Capital Reserve ₹ 2,000
 
Q. 5 PS Ltd. forfeited 500 Equity Shares of ₹ 100 each for the non-payment of first call of ₹ 30 per share. The final call of ₹ 10 per share was not yet made. The forfeited shares were reissued for ₹ 65,000 fully paidup.
Pass the necessary Journal entries.
Ans : Capital Reserve ₹ 30,000
 
Q. 6 SSS Ltd. forfeited 1,000 Equity shares of ₹ 100 each for the non-payment call ₹ 20 per share and second and final call of ₹ 25 per share. State :-
(i) Can these shares be reissued ?
(ii) If yes, state the minimum amount at which these shares can be reissued ?
(iii) If these shares were reissued at ₹ 50 per share fully paid-up, what will be the amount of Capital Reserve ?
Ans : (i) Yes, (ii) ₹ 45, (iii) ₹ 5,000
 
Q. 7 M Limited forfeited 2,000 equity shares of ₹ 10 each, issued at a premium of ₹ 5 per share, held by Ram for non-payment of the final call of ₹ 3 per share. Of these, 100 shares were re-issued to Vishu at a discount of ₹ 4 per share.
Ans : Capital Reserve ₹ 300
 
Q. 8 X Ltd. forfeited 1,000 shares of ₹ 10 each (₹ 8 called up) for the non-payment of the allotment money of ₹ 5 per share including ₹ 2 as premium. Of these 800 shares were re-issued to S at ₹ 7 per share as ₹ 8 called up. Journalise the above transactions in the books of X Ltd.
Ans :   Capital Reserve ₹ 3,200
 
Q. 9 A company forfeited 100 equity shares of ₹ 100 each issued at a premium of 50% (to be paid at the time of allotment) on which first call money of ₹ 30 per share was not received; final call of ₹ 20 is yet to be made. These shares were subsequently re-issued at ₹ 70 per share as ₹ 80 paid up. Give necessary Journal entries regarding forfeiture and re-issue of shares.
Ans : Capital Reserve ₹ 4,000
 
Q. 10 50 shares of ₹ 10 each issued at a premium of ₹ 5 each payable with allotment were forfeited for the non-payment of allotment money of ₹ 9 per share including premium. The first and final call on these shares at ₹ 3 per share were not made. The forfeited shares were re-issued @ ₹ 12 per share fully paid up.
Journalise.
Ans : Capital Reserve ₹ 150
 
Q. 11 The Directors of a company forfeited 200 shares of ₹ 10 each issued at a premium of ₹ 3 per share, for the non-payment of the first call money of ₹ 3 per share. The final call of ₹ 2 per share has not been made. Half of the forfeited shares were reissued for ₹ 1,000 fully paid. Record the journal entries for the forfeiture and reissued of shares.
Ans : Capital Reserve ₹ 500
 
Q. 12 X Ltd. forfeited 150 shares of ₹ 20 each issued at a premium of ₹ 5 per share for the non payment of the second and final call of ₹ 7 per share. 100 of these shares were reissued @ ₹ 21 per share fully paid.
Journalise the above transactions regarding the forfeiture and reissue.
Ans : Capital Reserve ₹ 1,300
 
Q. 13 M Ltd. forfeited 2,000 shares of ₹ 10 each (Fully called-up) for the non-payment of the allotment money of ₹ 6 per share including ₹ 2 as premium. Of these, 1,500 shares were reissued to A at ₹ 9 per share fully paid. Journalise the above transactions regarding the forfeiture and reissue in the books of M Ltd.
Ans : Capital Reserve ₹ 7,500
 
Q. 14 Mahan Limited forfeited the following Equity Shares of ₹ 10 each issued at a premium of ₹ 2 per share :-
(i) 700 shares issued to X for the non-payment of second and final call of ₹ 3 per share.
(ii) 500 shares issued to Z for the non-payment of first call of ₹ 2 per share and second and final call of ₹ 3 per share.
The forfeited shares were reissued to Y for ₹ 11 per share fully paid. Pass the necessary Journal entries to record the forfeiture and reissue of shares.
Ans : Capital Reserve ₹ 7,400
 
Q. 15 TAG Ltd. forfeited 400 shares of ₹ 10 each issued at a premium of ₹ 1 per share for the non-payment of allotment money of ₹ 4 per share (Including premium). The first and final call of ₹ 3 per share has not been made as yet. 50% of the forfeited shares were reissued at ₹ 8 per share fully paid-up. Pass the necessary entries for the forfeiture and reissue of shares.
Ans : Capital Reserve ₹ 400

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Download Practice Assignments: Class 12 Accountancy Part 2 Chapter 01 Accounting For Share Capital

Download Assignment: Part 2 Chapter 01 Accounting For Share Capital (Class 12 Accountancy)

Review targeted chapter assignments for Class 12 Accountancy Part 2 Chapter 01 Accounting For Share Capital. Built according to official CBSE guidelines, these downloadable problem sets help students build accuracy and prepare effectively for school tests.

Key Advantages of Solving Part 2 Chapter 01 Accounting For Share Capital Assignments

  • Syllabus Compliance: Sets reflect current CBSE evaluation criteria and official marking frameworks.
  • Multi-Format Practice: Includes varied problem types designed to deepen comprehension across all sub-topics.
  • Time Management: Routine practice optimizes pacing to finish school examinations comfortably within schedule.

Steps to Complete Part 2 Chapter 01 Accounting For Share Capital Assignments Successfully

  1. Concept Foundation: Review the NCERT book for Class 12 Accountancy thoroughly before diving into assignment tasks.
  2. Self-Evaluation: Solve exercises independently before inspecting professional answer guides.
  3. Progress Monitoring: Note down complex formulas or concepts, clearing them up using available online practice aids.

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