Question

A share of ₹ 100 issued at a premium of ₹ 10 on which ₹ 80 (including premium) was called and ₹ 60 (including premium) was paid, has been forfeited. This share was afterwards reissued as fully paid-up for ₹ 70. Give Journal entries to record the above.

Answer 1

HEY dude your answer is

He had to issues as 100 rupess for month and 10 rupess per day .These entries to record the above question

Answer 2

The Journal entries to record the above given transactions are prepared and calculated below:

Explanation:

Given,

A share of ₹ 100 issued at a premium of ₹ 10 on which ₹ 80 (including premium) was called and ₹ 60 (including premium) was paid, has been forfeited.

This share was afterwards reissued as fully paid-up for ₹ 70.

The Journal entries to record the above given transactions are prepared and calculated below: