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11. X Ltd. forfeited 400 shares …

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11. X Ltd. forfeited 400 shares of Rs.100 each, Rs.70 called up, on which the shareholders had paid application and allotment money of Rs.50 per share. Out of these, 300 shares were re-issued to Naresh as Rs.70 paid up for Rs.80 per share. Give entries.

Posted by Pankaj Singh 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

share capital a/c ___dr 28000
to share forfeiture a/c 20000
to share first call a/c 8000

bank a/c ___dr 24000
to share capital a/c 21000
to security premium reserve a/c 3000

share forfeiture a/c ____dr 21000
to share capital a/c 21000

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