Record the journal entries for forfeiture and reissue of shares in the following cases:
(a) X Ltd. forfeited 20 shares of Rs. 10 each, Rs. 7 called-up on which the shareholder had paid application and allotment money of Rs. 5 per share. Out of these, 15 shares were reissued to Naresh as Rs. 7 per share paid-up for Rs. 8 per share.
(b) Y Ltd. forfeited 90 shares of Rs.10 each, Rs. 8 called-up issued at a premium of Rs. 2 per share to R for non-payment of allotment money of Rs. 5 per share (including premium). Out of these, 80 shares were reissued to Sanjay as Rs 8 called-up for Rs. 10 per share.
