Q 108 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 108 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Ratan Ltd. forfeited 3,000 shares of ₹ 10 each (issued at ₹ 2 premium) for non-payment of first callof ₹ 2 per share. Final call of ₹ 3 per share was not yet made. Out of these, 2,000 shares were re-issued at ₹ 10 per share as fully paid. Pass entries for forfeiture and reissue of shares.

[Ans. Capital Reserve ₹ 10,000.]

Solution:-