Write journal entries in the books of company for forfeiture and reissue of forfeited shares from the following information :
(i) Company forfeited 1200 equity shares of ₹ 10 each held by Katara for non-payment of allotment money of ₹ 14 per share (including premium ₹ 10) and first and final call money of ₹ 3 per share. Company reissued all the forfeited shares after giving maximum permissible discount. These shares were purchased by Kanu.
(ii) Ramesh holds 600 equity shares of ₹ 10 each in company. He had paid application money at ₹ 3 per share and allotment money at ₹ 2.50 per share but could not pay first call money of ₹ 2 per share. Company forfeited above shares before making final call after necessary formalities. Company reissued all these shares at a discount of ₹ 4 per share.
(iii) Company forfeited 400 equity shares of ₹ 100 each, issued at a premium of 20 % on face value. ₹ 80 per share (including premium) are called up on these shares. For non-payment of allotment money at ₹ 50 (including premium) these shares were forfeited before making share first and final call. These shares reissued before first and final call at ₹ 36,000 as fully paid up.
