The directors of A Ltd., resolved on 1 st May 2010 that 4,000 ordinary shares of 10
Question:
The directors of A Ltd., resolved on 1st May 2010 that 4,000 ordinary shares of ₹10 each, ₹7.50 paid, be forfeited for non - payment of final call of ₹2.50. On June 10, 2010, out of the above, 3,600 shares were re-issued for ₹6 per share. Give necessary journal entries.
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To record the forfeiture of shares and their subsequent reissuance you need to make journal entries in the books of A Ltd Here are the necessary journ...View the full answer
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