Q 54 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solutions of Question number 54 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Journalise the following transactions in the books of Poonam Ltd.:

200 shares of ₹ 10 each issued at a premium of ₹ 5 each payable with allotment were forfeited for the non-payment of allotment money of ₹ 8 per share including premium. The first and final call on these shares of ₹ 3 per share was not made. The forfeited shares were re-issued @ ₹ 12 per share fully paid up.

[Ans. Transfer to Capital Reserve A/c : ₹ 800.]

Solution:-