Give necessary Journal entries:
(i) The Directors of Devendra Ltd. Resolved on 1st January, 2010 that 100 Equity Shares of Rs. 10 each, Rs. 8 paid-up be forfeited for non-payment of final call of Rs. 2. On 1st February, 60 of these shares were reissued @ Rs. 7 per share as fully paid-up.
(ii) Virender Limited forfeited 20 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Mukesh on which he had paid Rs. 20 per share. Out of these, 15 shares were reissued to Sanjeev as Rs. 60 paid-up for Rs. 45 per share.

The Directors of M Ltd. resolved on 1st May, 2015 that 2,000 Equity Shares of Rs. 10 each, Rs. 7.50 paid be forfeited for non-payment of final call of Rs. 2.50 . On 10th June, 2015, 1,800 of these shares were reissued for Rs. 6 per share. Give necessary Journal entries.

What amount of profit on reissue will be transferred to Capital Reserve under following situations? (i) 3,000 shares of Rs. 10 each of Rakesh were forfeited by crediting Rs. 5,000 to Forfeited Shares Accounts. Out of these, 1,800 shares were reissued to Mohan for Rs. 9 per share as fully paid-up. (ii) Z Ltd. forfeited 20 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Shiv on which he paid Rs. 20 per share. Out of these, 15 shares were reissued to Rajesh as Rs. 60 paid-up for Rs. 45 per share.

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.

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 ?

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 ?

Journalise the following : (i) A Ltd. forfeited 1,000 shares of Rs. 10 each, Rs. 8 paid, for non-payment of final call of Rs. 2 per share. Out of these, 400 shares were re-issued as fully paid-up in such a way that Rs. 2,000 were transferred to capital reserve. (ii) B Ltd. forfeited 1,000 shares of Rs. 10 each, Rs. 8 called-up, for non-payment of Allotment of Rs. 2.50 per share and first call of Rs. 3 per share. Out of these, 400 shares were re-issued for Rs. 7 per share as Rs. 8 paid-up. (iii) C Ltd. forfeited 300 shares of Rs. 10 each on which Rs. 7 has been called and Rs. 5 has been paid. Out of these, 100 shares are re-issued for Rs. 6 share as Rs. 7 paid-up.

Pass journal entries for the forfeiture and re-issue in the following cases : (a) X Ltd. forfeited 700 shares of Ashok of Rs. 10 each Rs. 8 called-up, on which had paid Rs. 5 share. Out of these, 500 shares were re-issued for Rs. 9 per shar as fully paid. (b) Y Ltd. forfeited 400 shares of Rs. 10 each, Rs. 6 called-up, for non-payment of first call of Rs. 2 per share. Out of these, 300 shares were immediately re-issued Rs. 5 per share. (c ) Z Ltd. forfeited 300 shares of Rs. 100 each on which first call of Rs. 20 per share was not received, the second and final call of Rs. 30 per share has not yet been called. Out of these, 200 shares were re-issued as Rs. 70 paid-up for Rs. 55 per share.

Pass Journal entries in the following cases: M Ltd. forfeited 200 Equity Shares of Rs. 10 each, issued at a premium of Rs. 5 per share, held by Ram for non-payment of the final call of Rs. 3 per share. Of these, 100 shares were reissued to Vishu at a discount of Rs. 4 per share.

Show the forfeiture and reissue entries under each of the following cases: (i) X Ltd. Forfeited 300 shares of Rs. 10 each, Rs. 8 called-up held by Mr. A for non-payment of second call money of Rs. 3 per share. These shares were reissued to Mr. Z for Rs. 10 per share as fully paid-up. (ii) Y Ltd. forfeited 400 shares of Rs. 10 each, fully called-up, held by Mr. B for non-payment of final call money of Rs. 4 per share. These shares were shares were reissued to Mr. T at Rs. 12 per share as fully paid-up. (iii) Light Ltd. forfeited 250 shares of Rs. 10 each, fully called-up , held by Mr. C for non-payment money of Rs. 3 per share and first and final call money of Rs. 4 per share. These shares were reissed @ Rs. 8 per share as fully paid-up to Mr. P.