Q 107 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 107 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Vikram Ltd. forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of ₹ 5 per share and first and final call of ₹ 2 per share. Only application money of ₹ 3 was paid by him. Out of these, 3,000 shares were re-issued @ ₹ 12 per share as fully paid. Pass entries for forfeiture and reissue of shares.

[Ans. Capital Reserve ₹ 10,800.]

Solution:-