Ashoka linited company which had issued …
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Ashoka linited company which had issued equity shares Rs 20 each at discount of Rs 4 per share forfeited 1000 shares for non payment of final call of Rs 4 per share. 400 of the forfeited shares are reissued at Rs 14 per share out of remaining shares of 200 shares are reissued at Rs 20 per share. Give journal entries for the forfeiture and reissue of share and show the amount transferred to capital reserve and the balance in forfeiture account.
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