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The directors of. Company forfeited 1000 …

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The directors of. Company forfeited 1000 shares of 100 each on which 4000 had been paid. 400 of those shares were reissued upon payment of 3000. Give the journal entries.

Posted by Hiten Chadha 4 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Khushi Varshney 4 years, 8 months ago

IF NO OTHER INFORMATION IS GIVEN LIKE CALLED UP AMOUNT ON SHARES AND IT IS ASSUMED TO BE FULLY PAID UP THEN THIS QUESTION WILL BE WRONG AS THE DISCOUNT ON REISSUE OF SHARES CANNOT EXCEED THE AMOUNT RECEIVED ON FORFEITED SHARES.

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