Question

z Ltd forfeited 800 equity
800 equity shares of Rs. 10
each issued at a discount of 10% for the
non- payment of first and final call of
Rs. 3 per share. The forfeited shares
reissued at Rs. 12 per share as
fully paid up​

Answer 1

Answer:

Ans = 900 I will solve. it

Answer 2

Journal entry in the books of Z Ltd.

Explanation:

Following journal entry will appear in the books of Z Ltd.

First entry:-

Share Capital a/c. Dr. 8,000

To Discount on share issue 800

To share forfeiture A/c 4,800

To share first and final call A/c 2,400

Second entry:-

Bank A/c. Dr. 9,600

To share capital A/c 8,000

To Securities P. Reserve. 1,600

Third entry:-

Share Forfeiture A/c. Dr. 4,800

To Capital Reserve A/c 4,800