Money itd. Parfeited 2000 shares of Re 10 each
issued at far for the mon bachment the final
Call of Rs 2 ker share. There shares were reissued
@ Re ? leor share fully paid uh pass the necessary
journal Entries in the books of the Company
credital Recue =Rg 10,000 ). plzz don't spam other wise i will report ur ans..
Answers
Answer:
Hope this will help you
Explanation:
The company debits a certain amount to the share capital at the time of forfeiture of shares which is always the called up value. And the called up value is that amount which any company demands from its shareholders periodically every year.
The share capital is debited because the called up amount which the company was expecting from was shareholders has not been deposited and thus they have to reduce the capital balance by debiting share capital account.
Share capital amount can be calculated as under:
ShareCapitalAmount=Calledupvaluepershare×No.ofshares
Substitute values in the above equation
ShareCapitalAmount=Rs9×2000shares=Rs18,000
The amount debited to share capital is Rs18,000.
Answer:
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