Question

A Limited Company forfeited 100 Equity Shares of the face value of ₹ 10 each, ₹ 6 per share called-up, for non-payment of first call of ₹ 2 per share. The forfeited shares were subsequently reissued as fully paid-up @ ₹ 7 each.
Give necessary entries in the company’s journal.

Answer 1

HEYA MATE YOUR ANSWER IS

A Limited Company forfeited 100 Equity Shares of the face value of ₹ 10 each, ₹ 6 per share called-up, for non-payment of first call of ₹ 2 per share. The forfeited shares were subsequently reissued as fully paid-up @ ₹ 7 each.

Give necessary entries in the company’s journal

HOPE THIS HELPS ❤️

PLEASE MARK AS BRAINLIEST ❤️❤️

Answer 2

$Calculation of capital reserve \\Share forfeiture (cr.) = Rs.400\\Share forfeiture (dr) = Rs.300\\Balance in share forfeiture of re - issue shares = 100\\\\Capital reserve = Balance in share forfeiture of re - issue shares = 100$