(A) Virender Limited forfeited 400 share...

(A) Virender Limited forfeited 400 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Mukesh on which he paid Rs. 25 per share. Out of these, 300 shares were re-issued to Sanjeev as Rs. 60 paid-up for Rs. 45 per share. Pass entries for forfeiture and re-issue of share.
(B) The Directors of Devendra Ltd. resolved on 1st April, 2016 that 1,000 equity shares of Rs. 10 each, Rs. 8 per share called-up be forfeited for non-payment of first call of Rs. 2 per share. On 1st May, 2016, 600 of these shares were re-issued at Rs. 7 per share fully paid-up. Pass entries for forfeiture and re-issued of shares.

Similar Questions

Explore conceptually related problems

B Ltd. forfrited 300 shares of Rs. 100 each, Rs. 70 called up, for non-payment of first call of Rs. 20 per share. Out of these, 200 shares were reissued for Rs. 60 per share as Rs. 70 paid up. What is the amount to be transferred to Capital Reserve Account ?

Y Ltd. forfeited 400 shares of Rs. 10 each, Rs. 7 called up, for non-payment of first call of Rs. 2 per share. Out of there, 300 shares were reissued for Rs. 6 per share as Rs. 7 paid up. What is the amount to be transferred to Capital Reserve Account ?

R Ltd. forfeited 600 shares of Rs. 100 each Rs. 70 called up on which Mahesh has paid application and allotment money of Rs. 50 per share. Of these, 400 shares were re-issued to Naresh as fully paid-up for Rs. 110 per share. What is the amount to be transferred to Capital Reserve ?

Cemto Ltd. Forfeited 6,000 shares of Rs. 10 each issued at a premium of Rs. 2 per share for the non-payment of final call of Rs. 3 per share. 300 of the forfeited shares were reissued for Rs. 8 per share as fully paid up. Pass necessary journal entries for the forfeiture and re-issue of shares. Also prepare share forfeited account.

Star Ltd. forfeited 500 Equity shares of Rs. 100 each for non-payment of first call of Rs. 30 per share. The final call of Rs. 10 per share was not yet made. Out of these, 60% shares were reissued for Rs. 39,000 fully paid. Journalise the forfeitue and reissue of shares.

X Ltd. forfeited 400 shares of Rs. 20 each Rs. 15 called up on which application and allotment money of Rs. 11 per share has been received. Of these, 100 shares were re-issued as fully paid-up for Rs. 24 per share. What is the amount to be transferred to Capital Reserve ?

A Ltd. forfeited 800 shares of Rs. 10 each issued at 20% premium (to be paid at the time of allotment) for non-payment of a final call of Rs. 2 per share. Out of these, 600 shares were re-issued as fully paid-up for Rs. 13 per share. Journalise.

VT Ltd. forfeited 200 shares of Rs. 10 each, issued at a premium of Rs. 5 per share, held by Mohan for non-payment of the final call of Rs. 3 per share. 100 out of these share were reissued to Narender at a discount of Rs. 4 per share. Journalise.

The Director of a company foreited 300 shares of Rs. 10 each issued at a premium of Rs. 3 per share, for the non-payment of the first call money of Rs. 2 per share. The final call of Rs. 2 per share has not been made. Half the forfeited shares were reissued at Rs. 1,500 as fully paid-up. Record the Journal entries for the forfeiture and reissue of shares.

Similar Questions

Recommended Questions