Home
Class 12
ACCOUNTS
A share of Rs. 100 issued at a premium o...

A share of Rs. 100 issued at a premium of Rs. 10 on which Rs. 80 (including premium ) was called and Rs. 60 (including premium) was paid, has been forfeited . This share was afterwards reissued as fully paid-up for Rs. 70. Give Journal entries to record the above.

Text Solution

Verified by Experts

The correct Answer is:
Capital Reserve-Rs. 20.
Promotional Banner

Topper's Solved these Questions

  • COMPANY ACCOUNTS- ACCOUNTING FOR SHARE CAPITAL

    TS GREWAL|Exercise Evaluation Questions: Questions With Missing Values|6 Videos

  • COMPANY ACCOUNTS- ACCOUNTING FOR SHARE CAPITAL

    TS GREWAL|Exercise Short Answer Type Questions|1 Videos

  • COMPANY ACCOUNTS REDEMPTION OF DEBENTURES

    TS GREWAL|Exercise EXERCISE|24 Videos

  • DISSOLUTION OF A PARTNERSHIP FIRM

    TS GREWAL|Exercise Evaluation Questions : Questions with Missing Values|4 Videos
TS GREWAL-COMPANY ACCOUNTS- ACCOUNTING FOR SHARE CAPITAL-Exercise
  1. New Company Ltd. has a nominal capital of Rs. 2,50,000 in shares of Rs...

    Text Solution

    |

  2. Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs...

    Text Solution

    |

  3. A share of Rs. 100 issued at a premium of Rs. 10 on which Rs. 80 (incl...

    Text Solution

    |

  4. Pass Journal entries in the following cases: M Ltd. forfeited 200 E...

    Text Solution

    |

  5. VT Ltd. forfeited 200 shares of Rs. 10 each, issued at a premium of Rs...

    Text Solution

    |

  6. The Director of a company foreited 300 shares of Rs. 10 each issued at...

    Text Solution

    |

  7. JCV Ltd., forfeited 200 shares of Rs. 10 each issued at a premium of ...

    Text Solution

    |

  8. Pass necessary Journal entries in the books of the company for the fol...

    Text Solution

    |

  9. 150 shares of Rs. 10 each issued at a premium of Rs. 4 per share payab...

    Text Solution

    |

  10. Commerce Publications Ltd. issued 50,000 Equity Shares of Rs. 10 each...

    Text Solution

    |

  11. Gaurav applied for 5,000 shares of Rs. 10 each at a premium of 2.50 pe...

    Text Solution

    |

  12. Telecom Ltd.' issued 20,000 Equity Shares of Rs. 10 each at a premium ...

    Text Solution

    |

  13. Kamal Ltd. was formed on 1st April, 2010 with an authorised capital o...

    Text Solution

    |

  14. Krishna & Co. Ltd. with an authorised capital of Rs. 2,00,000 divided...

    Text Solution

    |

  15. Midee Ltd. invited applications for issuing 27,000 shares of Rs. 100 e...

    Text Solution

    |

  16. VXN Ltd. invited applications for issuing 50,000 equity shares of Rs. ...

    Text Solution

    |

  17. Sukanya Ltd. invited applications for issuing 1,00,000 equity shares o...

    Text Solution

    |

  18. Alfa Ltd. invited applications for issuing 75,000 equity shares of Rs...

    Text Solution

    |

  19. Himalaya Company Limited issued for public subscription 1,20,000 equi...

    Text Solution

    |

  20. Amrit Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 p...

    Text Solution

    |