Accountancy, asked by supreetpaikar, 2 months ago

The issued share capital of a company consisted of 10,000 equity shares of 100 each fully called up. The Board of Directors decided, after the completion of necessary legal Formalities, forfeited 200 of these shares for non-payment of the last call of 30 per Share. These are subsequently, re-issued as fully paid at a premium of 10 per share.​

Answers

Answered by skzaidhossain
1

Answer:

share capital a/c .....dr (200×10) 20000

to calls in arrear a/c..(200×30) 6000

to share forfeiture a/c (200×70) 14000

bank a/c ....dr (200×110) 22000

to share capital a/c (200×100) 20000

to security premium a/c (200×10) 2000

share forfeiture a/c ....dr 14000

to capital reserve a/c 14000

Explanation:

full share forfeiture amount to sent to capital reserve a/c as reissue of share are fully called up at premium

ans 14000 to capital reserve

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