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X’ Company limited issued 10,000 shares …

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X’ Company limited issued 10,000 shares of Rs. 100 each. The amount was payable Rs. 10 on application Rs. 40 on allotment and Rs. 20 on first call and final call Rs 50. All the shares were subscribed and the money was duly received except the first call and final call on 2,000 shares. The directors forfeited these shares and reissued at Rs. 80 per share as fully paid up. Pass the journal entries.

Posted by Mahantesh Mudashi 7 years, 4 months ago

CBSE > Class 11 > Accountancy

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