Q 96 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 96 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Y Ltd. forfeited 2,000 shares of ₹ 10 each issued at 20% premium (to be paid at the time of allotment) on which allotment money of ₹ 4 (including premium) and first call money of ₹ 3 was not received; the final call money of ₹ 2 is not yet called. 1,500 of these shares were re-issued as fully paid for ₹ 7 per share. Journalise.

[Ans. Capital Reserve Nil.]

Solution:-