Delta Ltd. forfeited 600 shares of 10 each issued at a premium of 10% to W...
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Delta Ltd. forfeited 600 shares of 10 each issued at a premium of 10% to W for non- payment of first and final call money of 3 (including 1 premium). At different intervals of time out of these 400 shares were re-issued to Z, credited as fully paid for * 9 per share and 100 shares were re-issued to X as 10 paid up for 11 per share. Record the journal entries for forfeiture and reissue of shares. Delta Ltd. forfeited 600 shares of 10 each issued at a premium of 10% to W for non- payment of first and final call money of 3 (including 1 premium). At different intervals of time out of these 400 shares were re-issued to Z, credited as fully paid for * 9 per share and 100 shares were re-issued to X as 10 paid up for 11 per share. Record the journal entries for forfeiture and reissue of shares.
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Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
Posted Date:
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