Question

Show the Entries for Forfeiture and Reissue of Shares from the following information:
Dr.
To Share Capital A/c 1000
To Capital Reserve A/c 2500
To Balance c/d 3500
Total debit side 7000
Cr.
By Share Capital A/c
Total credit side 7000
Face value per share was * 10 and Final call of 3 per share was not paid.
These shares were forfeited and out of which some of the shares were reissued.​

Answer 1

Explanation:

Show the Entries for Forfeiture and Reissue of Shares from the following information:

Dr.

To Share Capital A/c 1000

To Capital Reserve A/c 2500

To Balance c/d 3500

Total debit side 7000

Cr.

By Share Capital A/c

Total credit side 7000

Face value per share was * 10 and Final call of 3 per share was not paid.

These shares were forfeited and out of which some of the shares were reissued.