Q 76 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 76 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Jupiter Ltd. issued shares of ₹ 100 each at a premium of 40% payable as follows:

Vinita, who applied for 700 shares and to whom 400 shares were allotted on prorate basis did not pay allotment and her shares were immediately forfeited. Pass entry for forfeiture of shares.

[Ans. Amount credited to Share Forfeiture Account ₹ 32,000.]

Solution:-