Question

The Hindustan Manufacturing Ltd. had a total subscribed capital of ₹ 10,00,000 in Equity Shares of ₹ 10 each of which ₹ 7.50 were called-up. A final call of ₹ 2.50 was made and all amount paid except two calls of ₹ 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at ₹ 8 per share.
Pass necessary journal entries (including that of cash) to record the transactions of final call forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company.

Answer 1

Answer:

refer the attachment

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