Q 68 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solutions of Question number 68 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
A limited Company forfeited 400 shares of Mr. X, who had applied for 600 shares on account of non-payment of allotment money ₹ 3 + ₹ 2.50 (premium) and first call ₹ 2. Only ₹ 4 per share was received with application. Out of these, 200 shares were re-issued to Mr. Y at ₹ 8 per share, ₹ 9 paid-up.
Give journal entries relating to forfeiture and re-issue.
[Ans. Capital Reserve ₹ 1,000.]
Solution:-
