Question

B ltd.forfeited 400 share of rs 10 each fully called up for non payment of final call of Rs.3 per share.300 of these share were re issued as fully paid for 8 per share

Answer 1

Answer: share capital a/c Dr 4000

To Share forfeited a/c 2800

To share final call a/c 1200

Bank a/c Dr 2400

Share forfeited a/c Dr 600

To share capital a/c 3000

Share forfeited a/c Dr 1500

To capital Reserve a/c 1500

Explanation:

Answer 2

Explanation:

share capital A/c dr. 4000

to final call A/c. 1200

to share forfeiture A/c 2800

bank a/c dr. 2400

share forfeiture A/c 600

to share capital A/c. 3000