ques 7 and 8 both please
Answers
7(a)
share capital a/c Dr. 500
To share allotment a/c 150
To share last call a/c 200
To share forfeiture a/c 150
( 50 shares forfeited immediately after allotment.)
Bank a/c Dr. 500
To share capital a/c 500
(50 forfeited shares reissued to bitu at ₹10 each)
share forfeiture a/c. Dr. 150
To capital reserve a/c 150
(gain on forfeited shares transferred to capital reserve account)
7(b)
share capital a/c. Dr. 900
To share call a/c 200
To share forfeiture a/c 700
( 100 shares of Anish forfeited due to non payment of call )
Bank a/c. Dr.600
share forfeiture a/c. Dr.300
To share capital a/c 900
(100 shares reissued at ₹6 per share )
share forfeiture a/c Dr. 400
To capital reserve a/c 400
(Gain on forfeited reissued shares transferred to capital reserve account)
working note 1
profit on 100 shares = 700
capital reserve = 700 - 300
=400
answer no .8 in photo
I hope it will help you
sorry maine proper frame krke nhi btaya ap journal ka format bna Lena I hope you will know.
