Question

Pass Journal entries to record the above transactions. (Ans. Share Forfeited A/c 3,000)
42 X Lid. issued 1,000 shares of 10 each at a premium of 2 payable: 2 application, 25 on
allotment (including premium), 3 on first call and 2 on second and final call.
All the shares were subscribed for and money received except Mr. A who failed to pay allotment and
first call on 100 shares and his shares were forfeited. Mr. B did not pay both the calls on 200 shares
and his shares were forfeited after second call
Pass journal entries to record the transactions
[Ans. Total of Journal 23,400)​

Answer 1

Answer:

ExplPass Journal entries to record the above transactions. (Ans. Share Forfeited A/c 3,000)

42 X Lid. issued 1,000 shares of 10 each at a premium of 2 payable: 2 application, 25 on

allotment (including premium), 3 on first call and 2 on second and final call.

All the shares were subscribed for and money received except Mr. A who failed to pay allotment and

first call on 100 shares and his shares were forfeited. Mr. B did not pay both the calls on 200 shares

and his shares were forfeited after second call

Pass journal entries to record the transactions

[Ans. Total of Journal 23,400)​anation: