(Calculation of Gain on reissue when only a Part of Shares Forfeited are reissued).
Alok Ltd. forfeited 300 Equity Shares of Rs. 10 each, fully called-up, held by Ram for non-payment of allotment money of Rs. 3 per equity share and first and final call money of Rs. 4 per equity share. Out of these, 250 shares were reissued to Shyam for a total payment of Rs. 2,000.
Pass Journal entries for forfeiture and reissue.