Q 84 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solution of Question number 84 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Q. 84 (A). Virender Limited forfeited 400 shares of ₹ 100 each (₹ 60 called-up) issued at par to Mukesh on which he had paid ₹ 25 per share. Out of these, 300 shares were re-issued to Sanjeev as ₹ 60 paid-up for ₹ 45 per share. Pass entries for forfeiture and re-issue of shares.
(B). The Directors of Devendra Ltd. resolved on 1st April, 2023 that 1,000 equity shares of ₹ 10 each, ₹ 8 per share called-up be forfeited for non-payment of first call of ₹ 2 per share. On 1st May, 2023, 600 of these shares were re-issued at ₹ 7 per share fully paid-up. Pass entries for forfeiture and re-issue of shares.
[Ans. (A) Capital Reserve ₹ 3,000. (B) Capital Reserve ₹ 1,800.]
Solution:-
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