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Y ltd forfeited 400 shares of …

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Y ltd forfeited 400 shares of 10each 6calledup for non payment of first call of 2per share out of these 300 shares were immediately re issued at 5per share

Posted by Rishab Agrahari 3 years, 8 months ago

CBSE > Class 12 > Accountancy

1 answers

Srishty Suman 3 years, 8 months ago

share capital a/c 2400 To share forfeiture a/c 1600 To share first call a/c 800 (400 shares forfeited) Bank a/c 1500 Share forfeiture a/c 300 To share capital a/c 1800 (Out of 400 forfeited shares 300 are reissued) Share forfeiture a/c 900 To capital reserve a/c 900 (Being gain on shares transferred to capital reserve)

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