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A Ltd. Issued 20000 equity shares …

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A Ltd. Issued 20000 equity shares of rs. 10 each at a premium of rs. 5 per share , payable as rs. 7 (including premium) on app rs.5 on allotment and the balance after three month of allotment . A share holder to whom 200 share were alloted failed to pay the allotment and call money anx his share were forfeited .160 of the forfeited shares were reissued for rs. 1600 . Give journal entry ?

Posted by Sheetal Negi 8 years, 2 months ago

CBSE > Class 12 > Accountancy

7 answers

Md Kashif 8 years, 2 months ago

Capital reserve is 320.

Rahul Raturi 8 years, 2 months ago

It's 320 I have confirmed it with my teacher

Rahul Raturi 8 years, 2 months ago

Because the shares are not reissued at a premium or discount and their is also no prorata allotment it can't be 300 check again ur ans it will be 320

Rahul Raturi 8 years, 2 months ago

How can it be 300 can u explain ? I think it's 320 ..it can't be 300

Sheetal Negi 8 years, 2 months ago

No 300.

Rahul Raturi 8 years, 2 months ago

Sry it's 320

Rahul Raturi 8 years, 2 months ago

Iss the capital reserve 3200

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