A, who holds 200 shares of Rs. 100 each, has paid only Rs. 25 per share as application money.
B, who holds 300 shares of Rs. 100 each, has paid Rs. 25 per share on application and Rs. 30 per share on allotment.
C, who holds 400 shares of Rs. 100 each, has paid Rs. 25 per share on application, Rs. 30 per share on allotment and Rs. 20 per share on first call.
They failed to pay their arrears and the final call. Their shares were forfeited and re-issued at Rs. 95 per share.
Prepare necessary journal entries.

A holds 100 shares of Rs. 10 each, on which he has paid only Rs. 2.50 per share as application money. B, who holds 200 shares of Rs. 10 each, has paid Rs. 2.50 and Rs. 2 per share as application and allotment money, respectively. C holds 300 shares of Rs. 10 each and has paid Rs. 2.50 per share on application, Rs. 2 per share on allotment and Rs. 3 per share on first call. They failed to pay their arrears and the final call. Therefore the Directors forfeited their shares. These shares were subsequrntly reissued for cash at a discount of 10 per cent. Record journal entries in the books of the company to give effect to the above.

A holds 100 shares of Rs. 10 each on which he has paid Rs. 1 per share on application . B holds 200 shares of Rs. 10 each on which he had paid Rs. 1 and Rs. 2 per share on application and allotment respectively. C holds 300 shares of Rs. 10 each and has paid Rs. 1 on application, Rs. 2 on allotment and Rs. 3 on first call. They all fail to pay their arrears and the second call of Rs. 2 per share. Shares are forfeited and subseqently reissued @ Rs. 11 per share as fully paid-up. Journalise the above.

X Ltd., invited applications for 20,000 shares of Rs. 10 each payable as under : Rs. 3 per share on application, Rs. 3 per share on Allotment, Rs. 2 per share on First Call, and Rs. 2 per share on Final Call. Final Call was not made by the company. An applicant who had been allotted 100 shares failed to pay Allotment and First Call money due from him. His shares were forfeited after the First Call and were immediately re-issued at Rs. 8.50 per share. Make necessary entries in the Journal of the company.

Vikram Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 1 per share payable as follows : Rs. 3 on Application Rs. 4 on Allotment (including premium) Rs. 2 on Ist Call Balance when required Applications were received for 46,000 shares and all of these were accepted. Directors did not make the final call. The shares were forfeited and re-issued at Rs. 7 per share, Rs. 8 per share paid. Pass Cash at Bank and Journal Entries.

X Ltd. forfeited 900 Equity Shares of Rs. 100 each for the non-payment of allotment money of Rs. 30 pe share and the first call of Rs. 20 per share. The second and final call of Rs. 25 per share had not been made. The forfeited shares were reissued for Rs. 90 per share, Rs. 75 paid-up. Journalise the above.

Luxury Cars Ltd. invited applications for issuing 10,000 equity shares of Rs. 50 each at a premium of Rs. 100 per share. The amount was payable as follows : On application - Rs. 75 per share (including Rs. 50 premium) On allotment - The balance The issue was fully subscribed. A shareholder holding 400 shares paid his entire share money at the time of application. Another shareholder holding 300 shares did not pay the allotment money. His shares were forfeited. The forfwited shares were later on re-issued for Rs. 9 per share as fully paid up. Pass necessary journal entries for the above transactions in the books of the company.

Konica Limited registered with an authorised equity capital of Rs. 2,00,000 divided into 2,000 shares of Rs. 100 each, issued for subscription of 1,000 shares payable at Rs. 25 per share on application, Rs. 30 per share on allotment, Rs. 20 per share on first call and the balance as and when required. Application money on 1,000 shares was duly received and allotment was made to them. The allotment amount on 100 shares held by him and another shareholder with 50 shares, paid the entire amount on his shares. The company did not make any other call. Give the necessary journal entries in the books of the company to record these share capital transactions.

(Partial Allotment of Shares and their Forfeiture and Reissue). X applied for 2,000 shares of Rs. 10 each at a premium of Rs. 2.50 per share . He was allotted 1,000 shares. After having paid Rs. 3 per share on application, he did not pay the allotment money of Rs, 4.50 per share (including premium) and on his subsequent failure to pay the first call of Rs. 2 per share, his shares were forfeited. These shares were reissued @ Rs. 8 per share credited as fully paid-up. Pass Journal entries to record forfeiture and reissue of shares.

Super Star Ltd. makes an issue of 10,000 Equity Shares of Rs. 100 each, payable as: {:("On application and allotment"," Rs. 50 per share,"),("On first call"," Rs. 25 per share,"),("On second and final call"," Rs. 25 per share."),(,):} Members holding 400 shares did not pay the second and final call and the shares are duly forfeited, 200 of which are reissued as fully paid-up @ Rs. 50 per share. Pass Journal entries in the books of the company.

Z Ltd. forfeited 700 shares of Rs. 100 each, issued at a premium of 30% to Ghanshyam on which he had paid application money of Rs. 35 per share, for non-payment of allotment money of Rs. 50 per share (including premium) and first call of Rs. 15 per share. Out of these, 400 shares were re-issued as Rs. 70 paid-up for Rs. 65 per share. Journalise.