Question

Star Ltd. forfeited 500 Equity Shares of ₹ 100 each for non-payment of first call of ₹ 30 per share. The final call of ₹ 10 per share was not yet made. Out of these, 60% shares were reissued for ₹ 39,000 fully paid. journalise the forfeiture and reissue of shares.

Answer 1

HEYA MATE YOUR ANSWER IS

for ₹ 39,000 fully paid. journalise the forfeiture and reissue of shares.

HOPE THIS HELPS ❤️

PLEASE MARK AS BRAINLIEST ❤️❤️

Answer 2

Amount transferred to capital reserve

Share Re - issue =  300

Share forfeiture = 500

Amount forfeiture share (300 shares) = amount Forfeiture * Shares Re - issued/ share forfeiture = 30000*300/500 = 18000