Question

ssp ltd forfeited 300 shares of rs ten each issued st a premium of rs 2 per share for the non payment of allotment of rs 4 per share including premium. the first and final call of rs 3 per share has not been made yet 50% of forfeited shares were reissued at rs 8 per share fully paid up. pass necessary journal entries for the forfeited and reissue of shares​

Answer 1

Answer:

share capiatl a/c Dr 2100

spr a/c Dr 600

to share forfeiture a/c 1,500

to share allotment a/c 1,200

bank a/c Dr 1200

share forfeiture a/c Dr 300

to share capital a/c 1,500

share forfeiture a/c Dr 450

to share capital a/c 450