Question

Z Ltd. forfeited 20 shares of Rs 100 each 60 called-up issued at par to Shiv on which he paid Rs. 20

per share. Out of these, 15 shares were reissued to Rajesh as Rs. 60 paid-up for Rs. 45 per share.

Journalize.​

Answer 1

Answer:

share capital a/c dr 1200

To forfieted share 400

To call in arrear 800

Bank A/c dr 675

forfieted share dr 225

To share capital 900

forfieted share a/c dr 75

to reserve capital a/c 75