Question

z ltd forfeited 300 share of Rs.6 per share paid the company reissued 60 share @ Rs. 8 per share as fully paid amount transfered to capital reserve will be
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Answer 1

Answer:

1. share capital a/c Dr. 3,000

To forfeited shares a/c. 1,800

To calls in arrear a/c 1,200

2.Bank a/c Dr. 480

forfeited shares a/c Dr. 120

To share capital a/c. 600

3.forfeited shares a/c Dr. 240

To capital reserve. 240

60/300*1800

=360

360-120= 240

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