Question

Real estate developer Ltd forfeited 500 shares of rupees 10 each held by Amarjeet Singh which were issued at a premium of rupees 3 per share to be paid along with allotment money .He paid only application money of rupees 3 per share. 200 of the shares were reissued at rupees 10 per share .prepare journal entries for forfeiture and reissue of shares

Answer 1

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