(being the BJ transferred to capital reserve after reissue) Illustration 27 (Reissue of forfeited shares at...

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(being the BJ transferred to capital reserve after reissue) Illustration 27 (Reissue of forfeited shares at a discount which were originally issued at par) Jai Ltd. having a nominal capital of 20,000 shares of 10 each invited applications for 10,000 shares payable as follows: on Application 2.50 on Allotment 3.50 on First call €2.00 on Second & Final call 2.00 The company received applications for 9,000 shares. All applications were accepted. All money due as stated above were received with the exception of the second & final call on 200 shares. These shares were forfeited and reissued as fully paid at 79 per share. Draft journal entries. (being the BJ transferred to capital reserve after reissue) Illustration 27 (Reissue of forfeited shares at a discount which were originally issued at par) Jai Ltd. having a nominal capital of 20,000 shares of 10 each invited applications for 10,000 shares payable as follows: on Application 2.50 on Allotment 3.50 on First call €2.00 on Second & Final call 2.00 The company received applications for 9,000 shares. All applications were accepted. All money due as stated above were received with the exception of the second & final call on 200 shares. These shares were forfeited and reissued as fully paid at 79 per share. Draft journal entries.