Question

X Ltd. forfeited 200 shares of Rsto
RS 1o each, RS7 per share called
up for non-payment of first call of Rs 2 per
Śtaie. what amount o boill appear in
share forfeiture A/C if shares were
issulled at a discount of 5%.​

Answer 1

Answer:

share capital. dr 1400

To share first call 400

To share forfeiture. 1000

bank a/c. dr 1900

share forfeiture dr 100

To share capital. 2000

share forfeiture dr. 1900.

To capital reserve. 1900