forfeited 700 shares of Rs. 10 each fully called-up on which the holder has paid application money @ Rs. 3 and allotment money @ Rs. 2 per share.
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Explanation:
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200 shares were re- issued at Rs.9 ( 200 x 9 = 1800)
securities premium of shares 200
so as 1800 +200 = 2,000
shre capital A/c cr 2,000.
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