Question

1000 shares of 10 each issued at par were forfeited for the non-payment of the final call of 2 per
share. These shares were reissued @ 8 per share fully paid up. Journalise the forfeiture and reissue of
shares​

Answer 1

share capital A/c...dr

To share forfeited a/c

To share final call

Bank a/c...dr

share forfeited a/c dr

To share capital a/c

share forfeited a/c

To capital reserve

pls put amount to yourself