Give necessary journal entries for the forfeiture and re-issue of shares: X Ltd. forfeited 300 shares...
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Give necessary journal entries for the forfeiture and re-issue of shares: X Ltd. forfeited 300 shares of Rs.10 each fully called up, held by Ramesh for non- payment of allotment money of Rs. 3 per share and final call of Rs. 4 per share. He paid the application money of Rs. 3 per share. These shares were re-issued to Suresh for Rs. 8 per share. Give necessary journal entries for the forfeiture and re-issue of shares: X Ltd. forfeited 300 shares of Rs.10 each fully called up, held by Ramesh for non- payment of allotment money of Rs. 3 per share and final call of Rs. 4 per share. He paid the application money of Rs. 3 per share. These shares were re-issued to Suresh for Rs. 8 per share.
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Date a b c Particulars Equity Share Capital Ac Dr To Equity Share Allotmen... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
Posted Date:
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