Question

sonal was holding 50 equity shares at Rs 20 each of bittu limited issued at 10 percent premium she paid 6 on application 6 on allotment but could not pay the Rs 5 on first call and 5 on final call her shares were forfeited make journal entries for forfeiture of shares

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Answer 1

Answer:

share capital account dr 1000

To share first call account. 250

To share final call account. 250

To share forfeiture account. 500