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X Limited forfeited 900 equity shares …

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X Limited forfeited 900 equity shares of rupees 100 each for the non payment of allotment money of rupees 30 per share and first call of rupees 20 Per share. The second and final call of rupees 25 per share has not been made. The forfeited shares were reissued for rupees 90 per share, rupees 75 paid up. Journalise the above.

Posted by Anush. P P 4 years ago

CBSE > Class 12 > Accountancy

3 answers

Sneha Rai 4 years ago

Second entry starts from bank a/c and third entry start from share forfeited

Sneha Rai 4 years ago

Share capita a/c dr.=67500 To share allotment a/c = 27000 To share first call a/c = 18000 To share forfeited a/c=22500 Bank a/c dr.= 81000 To security premium = 13500 To share capital= 67500 Share forfeited a/c dr.=22500 To capital reservea/c= 22500

Anush. P P 3 years, 11 months ago

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