Question

Pass necessary journal entries in the books of the company for the following transactions:
Vishesh Ltd. forfeited 1,000 Equity Shares of ₹ 10 each issued at a premium of ₹ 2 per share for non-payment of allotment money of ₹ 5 per share including premium. The final call of ₹ 2 per share was not yet called on these shares. Of the forfeited shares 800 shares were reissued at ₹ 12 per share as fully paid-up.
The remaining shares were reissued at ₹ 11 per share fully paid-up.

Answer 1

HEYA MATE YOUR ANSWER IS

share was not yet called on these shares. Of the forfeited shares 800 shares were reissued at ₹ 12 per share as fully paid-up.

The remaining shares were reissued at ₹ 11 per share fully paid-up.

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Answer 2

Capital reserve to the Account is Rs.5000.

Explanation:

The Calculation of the company is given below in the tabular column.