(Forfeiture of Shares Issued at Premium, Reissued at Discount).
ABC Ltd. forfeited 150 Equity Shares of Rs. 10 each issued at a premium of Rs. 5 per share, for non-payment of allotment money of Rs. 8 per share (including premium of Rs. 5 per share), the first call of Rs. 2 per share and the final call of Rs. 3 per share. Out of these, 100 Equity Shares were reissued at Rs. 14 per share.
Give Journal entries the forfeiture and reissue of shares.

C Ltd. forfeited 300 shares of Rs. 10 each issued at 20% premium (to be paid at the time of allotment) for non-payment of allotment money of Rs. 4 per share (including premium), first call of Rs. 3 per share and final call of Rs. 2 per share. Out of these, 200 shares were re-issued as fully paid-up at a discount of Rs. 3 per share. Journalise.

JCV Ltd., forfeited 200 shares of Rs. 10 each issued at a premium of Rs. 2 per share for the non-payment of allotment money of Rs. 3 per share (including premium). The first and final call of Rs. 4 per share has not been made as yet. 50% of the forfeited shares were reissued at Rs. 8 per share as fully paid-up. Pass necessary Journal entries for the forfeiture and reissue of shares.

(Forfeiture of Shares issued at Premium and Reissued at Discount). A Ltd. forfeited 600 Equity Shares of Rs. 10 each issued at a premium of 20% to Ram who had applied for 720 Equity Shares, for non-payment of allotment money of Rs. 5 per equity share (including premium) and the first and final call of Rs. 5 per equity share. Out of these, 200 Equity Shares were reissued to Shyam credited as fully paid for Rs. 9 per equity share. As per the terms of issue, company was to retain the excess application money to adjust against calls. Pass Journal entries to record forfeiture and reissue of shares.

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.

Give Journal entries to record the following transactions of forteiture and re-issue of shares and open share forfeited account : L Ltd. Forfeited 470 Equity Shares of Rs. 10 each issued at a premium of Rs. 5 per share for non-payment of allotment money of Rs. 8 per share (including share premium Rs. 5 per share) and the first and final call of Rs. 5 per share. Out of these 60 Equity Shares were subsequently re-issued at Rs. 14 per share.

150 shares of Rs. 10 each issued at a premium of Rs. 4 per share payable with allotment were forfeited for non-payment of allotment money of Rs. 8 per share including premium. The first and final call of Rs. 4 per share was not made. The forfeited shares were reissued at Rs. 15 per share fully paid-up. Pass Journal entries in the books of X Ltd. for the above.

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.

Pass necessary Journal entries in the books of the company for the following transactions: Vishesh Ltd. Forfeited 1,000 Equity Shares of Rs. 10 each issued at a premium of Rs. 2 per share for non-payment of allotment money of Rs. 5 per share including premium. The final call of Rs. 2 per share was not yet called on these shares. Of the forfeited shares 800 shares were reissued at Rs. 12 per share as fully paid-up. The remaining shares were reissued at Rs. 11 per share fully paid-up.

Z Ltd., forfeited 1,200 shares of Rs. 100 each, issued at a premium of 30% to Dinesh on which he had paid application money of Rs. 50 per share and allotment money of Rs. 50 per share (including premium), for non-payment of a first call of Rs. 10 per share. Out of these, 500 shares were re-issued as fully paid for Rs. 105 per share. Journalise.