Question

Q. 113. A Ltd. forfeited 400 shares of Mr. X who had applied for 600 shares on
account of non-payment of allotment, first call and final call. Shares were issued a
2 premium payable as follows:
On Application 3, on Allotment 3+2, on First call
2 and Final Call 52. Out
of these, 300 shares were re-issued to Mr. Y at the rate of 12 per share as fully paid
shares. Give journal entries in the books of company to record above transactions.

Answer 1

Explanation:

113. A Ltd. forfeited 400 shares of Mr. X who had applied for 600 shares on

account of non-payment of allotment, first call and final call. Shares were issued a

2 premium payable as follows:

On Application 3, on Allotment 3+2, on First call

2 and Final Call 52. Out

of these, 300 shares were re-issued to Mr. Y at the rate of 12 per share as fully paid

shares. Give journal entries in the books of company to record above transactions.

Answer 2

Answer:

here is your answer

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