The Director of a company decided to forfeit 5,000 shares of Rs 100 per share on which called-up money was Rs 80. The bearer of these shares did not pay Rs 30 per share on first call and Rs 20 per share on finalcall. Make journal entry for forfeiture of the shares.
Answers
Answered by
8
Answer:
share capital a/c Dr. 400000
To share forfeited a/c 250000
To calls in arrear a/c 150000
Explanation:
80 RS per share called up of which 50 RS piad up 30 RS of first call has not paid.
Similar questions