Q 75 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 75 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Sun Ltd. issued shares of ₹ 50 each at a premium of 20% payable as follows:

Dev, who applied for 2,500 shares and to whom 1,000 shares were allotted on prorate basis, did not pay allotment and first and final call and his shares were forfeited. Pass entry for forfeiture of shares.

[Ans. Amount credited to Share Forfeiture Account ₹ 30,000.]

Solution:-