Question

Computers Limited forfeited 40 shares of Rs. 100 each at a Premium of 10% on which

Rs.80 including Premium was called and Rs.60 (including Premium) was paid. The first call

of Rs.20/- per share remains unpaid. Pass the necessary Journal entries.​

Answer 1

Answer:

share capital a/c. dr 2800

To share ist call 800.

To share forfeiture 2000