Question

0.2 XYZ Co. issued 10,000 of 10/- each in the following manner:
4 Application
* 3 Allotment
* 2 1st call
1 2nd call
Mr. R holder of 400 shares failed to pay 1st & 2nd call money Mr. S holder of
200 shares failed to pay 2nd call money Company forfeited shares of Mr. R. and
subsequently reissued 300 shares out of these @ 7 per share. Give Balance
sheet of the company along with journal entries.​

Answer 1

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