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VT Ltd. forfeited 200 shares of Rs.10 each, issued at a premium of Rs.5 per share, held by Mohan

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VT Ltd. forfeited 200 shares of Rs.10 each, issued at a premium of Rs.5 per share, held by Mohan for non-payment of the final call of Rs.3 per share. 100 out of these shares were reissued to Narender at a discount of Rs.4 per share. Journalise

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Working Notes:

Capital Reserve = Balance in share forfeiture after re-issue(per share) x No. of share re- issued =Rs.3x300 =Rs.300

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