Sarthaks APP
0 votes
18.7k views
in Accounts by (64.1k points)

A company forfeited 100 equity shares of Rs.10 each issued at a premium of 20% for non-payment of final call of Rs.5 including the premium. Show the journal entry to be passed for forfeiture of shares.

1 Answer

0 votes
by (106k points)
selected by
 
Best answer

A company forfeited 100 equity shares of Rs.10 each issued at a premium.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...