Raja Ltd., forfeited 400 shares of Rs. 25 each (Rs. 20 called up) held by Asha, for non-payament of allotment money of Rs. 10 per share (including Rs.

Monjur Alahi

Raja Ltd., forfeited 400 shares of Rs. 25 each (Rs. 20 called up) held by Asha, for non-payament of allotment money of Rs. 10 per share (including Rs. 5 per share premium) and the first call of Rs. 6 per share. Out of these, 300 shares were reissued to X as Rs. 20 called up for Rs. 16 per share. Give journal entries for forfeiture and reissue of shares.


0 like 0 dislike
19 views
Share with your friends

1 Answers

Salim Ahmed Kawsar

Call

Capital Reserve Rs. 1,500.

0 like 0 dislike
16 views
Talk Doctor Online in Bissoy App
The balance of Share Forfeiture A/c is transferred to _________ account after re-issue of these share.

The balance of Share Forfeiture A/c is transferred to capital reserve account after re-issue of these share.

2 Answers 1 views
a) Purchase of shares of X. Ltd. by an investor in the National Stock Exchange. 

Following will not be included in estimation of National Income of India:  a. As such transactions are mere paper claims and do not lead to any value addition.  b. Compensation paid by...

2 Answers 1 views
ASHA stands for

B) Accredited Social Health Activist

2 Answers 1 views
After spending 75% in his total money Ravi was left with Rs 600/. Then how much money he had originally ? 

Correct option is  C) ₹ 2400

2 Answers 1 views
Statement: Raja Raja Chola built the Big Temple. 

(d) Thanjavur

2 Answers 1 views
C Ltd. is planning to modernise its plant with latest technology. The company is not having sufficient money. The finance manager plans to arrange mon

Correct Answer - Public Deposits

2 Answers 1 views
Voluntarily giving away one’s share to another person is called as _______ of shares. 

Correct option: (a) Transfer

2 Answers 1 views
National vritech Ltd has gron in size .It was a market leader but with changes in business enviroment and with the entry of MNCs its market share is d

Correct Answer - Decentralisation

2 Answers 1 views
Good living Ltd. Manufactures mosquito repellent tablets. These tablets re packed in strips of 12 tablets each. Each of these strips are packed in a c

The Packaging of tablets in a corrugated box is necessary for the purpose of storage, Identification and transportation.

2 Answers 1 views
A limited company forfeited 400 shares of Mr. X, who had applied for 600 shares on account of non-payment of allotment money Rs. 3 + Rs. 2.50 (premium

Capital Reserve Rs. 1,000.

2 Answers 2 views
X