Prayuj ltd forfeited 2000 shares of Rs 10 each, fully called up, on which they had received only Rs 14000.50 of the forfeited shares were reissued for Rs 9 per shares fully paid up.
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share capital ac 20000
to share forfeiture ac dr 14000
to share first or final call ac dr 6000
cash / bank ac dr 9× 50 (450)
share forfeiture ac 1 ×50 ( 50)
to share capital 10 ×50 (500)
to share forfeiture ac dr 14000
to share first or final call ac dr 6000
cash / bank ac dr 9× 50 (450)
share forfeiture ac 1 ×50 ( 50)
to share capital 10 ×50 (500)
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