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The directors of A Ltd., resolved on 1 st May 2010 that 4,000 ordinary shares of 10 each, 7.50 paid,

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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 re issuance you need to make journal entries in the books of A Ltd Here are the necessary journal entries On May 1 2010 when the shares were for…View the full answer


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Corporate Accounting

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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Question Details
Chapter # 1- ISSUE, FORFEITURE, AND RE-ISSUE OF SHARES,,
Section: EXERCISES AND PROBLEMS
Problem: 10
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Question Posted: August 30, 2023 06:25:33
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