Question

Ravi was holding 25 shares of Rs. 10 each on which he paid Rs.5 on application but could not pay Rs.3 on allotment and Rs.2 on first call. Directors forfeited the shares after first call. Give journal entries for recording the forfeiture of shares.>>What will the entry? ​

Answer 1

Answer:

share capital A/C Dr. 250

To share allotment A/C 75

To share first call A/C 50

To share forfeited A/C 125