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Y ltd. forfeited 1500 shares of …

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Y ltd. forfeited 1500 shares of Rs 10 each(Rs 7 called up) for non payment of allotment money of Rs 4 per share including Rs 1 as premium. Out of these 1000 shares were reissued to M as per share of Rs 7 called up. Journalise the above.

Posted by Nvneet Kaur 6 years ago

CBSE > Class 12 > Accountancy

2 answers

Yash Pant 5 years, 11 months ago

Bank A/c. Dr 7000 To share capital A/c 7000 Reason: if information is not given as to how much amount is credited to share capital account it is credited with the amount credited before forfeiture

Aman Talreja 5 years, 11 months ago

Bank a/c Dr 7000 Share forfeited Dr 3000 To share cap a/c 10000

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