Sarthaks Test
0 votes
in Accounts by (64.1k points)

A Limited Company forfeited 100 Equity Shares of the face value of Rs.10 each, Rs.6 per share called-up, for non-payment of first call of Rs.2 per share. The forfeited shares were subsequently reissued as fully paid – up Rs.7 each. Give necessary entries in the company’s Journal.

1 Answer

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

Working Notes:

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.