Sarthaks Test
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Pass Journal entries in the following cases; M Ltd. forfeited 200 Equity Shares of Rs.10 each, issued at a premium of Rs. 5 per share, held by Ram for non-payment of the final call of Rs.3 per share. Of these, 100 shares were reissued to Vishu at a discount of Rs.4 per share.

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Working Notes:

Shares forfeiture of re- issued shares

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