F ltd forfeited 200 equity shares of rs 100 each(issued at a premium of 10%)for non payments of first call of rs 25 and final call of rs 15.of these 150 shares were reissued for rs 90/share.
give journal entries for forfeiture and reissue of shares
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Doubt in forfeiture and reissue of shares
Replies (1)
share capital A/c. Dr. 20000
To share forfeiture A/c. 12000
To calls in arrear A/c. 8000
Bank A/c. Dr. 13500
share forfeiture A/c Dr. 1500
To share capital A,/c. 15000
share forfeiture A/c Dr. 7500
To capital reserve A,/c. 7500
To share forfeiture A/c. 12000
To calls in arrear A/c. 8000
Bank A/c. Dr. 13500
share forfeiture A/c Dr. 1500
To share capital A,/c. 15000
share forfeiture A/c Dr. 7500
To capital reserve A,/c. 7500
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