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Saroj ltd. forfeited a share of …

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Saroj ltd. forfeited a share of Rs.50 which were issued at a premium of 20% for non payment of final call of Rs.10. The share was reissued at Rs.50. Calculate the amount to be transferred to capital reserve.

Posted by Mudita Negi 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Rajip Chowdhury 6 years, 10 months ago

1.Share capital acct dr 50 To calls in arrear 10 To share forfeiture 40 Bank acct dr 50 To share capital 50 Share forfeiture acct dr 40 To capital reserve 40 Thanx

Rukaiya Shabbir 6 years, 10 months ago

Share capital a/c dr - 50 To final call a/c - 10 To forfeited shares-40 Bank a/c dr - 50 To share capital a/c - 50 Forefeited shares a/c dr - 40 To capital reserve a/c -40

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