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Bricks Ltd.forfeited 800 shares of Rs …

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Bricks Ltd.forfeited 800 shares of Rs 10 each fully paid up, on which the holder has paid only the application money of Rs 3 per share .out of these 500 shares were reissued at Rs 11 per share, fully paid up.

Posted by Naman Agrawal 8 years, 2 months ago

CBSE > Class 12 > Accountancy

4 answers

Ria Munjal 8 years, 2 months ago

Share capital a/c..................Dr. 8000 To share forfeiture a/c. 2400 To capital reserve a/c. 5600 Bank a/c................................Dr. 5500 To Share capital a/c. 5000 To Security premium reserve a/c. 500 Share forfeiture a/c..............Dr. 1500 To capital reserve. 1500

Ria Munjal 8 years, 2 months ago

Pr 1500 kyu

Ria Munjal 8 years, 2 months ago

(1) Share capital A/c.....................Dr 8000 To share forfeiture a/c. 2400 To calls in arrear a/c. 5600 (2) Bank A/c...................................Dr 8800 To share capital a/c. 8000 To security premium resrve a/c. 800 (3) share forfeiture a/c...................Dr 35000 To capital reserve a/c. 35000 Working note 1. Amount of forfeiture on 500 shares 5600÷800×500 =3500

Sonal Jawla 8 years, 2 months ago

Capital reserve will RS. 1500

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