B Ltd. forfeited 500 shares of Rs. 10 each issued at 20% premium (to be paid at the time of allotment) for non-payment of the first call of Rs. 3 per share and final call of Rs. 2 per share. Out of these, 300 shares were re-issued as fully paid-up for Rs. 10 per share. Journalise.

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.

Give journal entries for forfeiture and re-issue of shares : (a) C Ltd. forfeited 800 shares of Rs. 10 each, issued at 30% premium (to be paid at the time of allotment) for non-payment of a first call of Rs. 2 per share. The second and final call of Rs. 2 has not yet been called. Out of these, 200 shares were re-issued as Rs. 8 paid up for Rs. 8 per share. (b) D Ltd. forfeited, 800 shares of Rs. 10 each, issued at 30% premium for non-payment of allotment money of Rs. 5 per share (including premium) and first call of Rs. 2 per share. The second and final call of Rs. 2 has not yet been called. Out of these, 200 shares re-issued as fully paid up for Rs. 11 per share. (c ) Y Ltd. forfeited 1,000 shares of Rs. 10 each issued at 10% premium to Shyam (Rs. 9 called up) on which he did not pay Rs. 3 of allotment (including premium) and first call of Rs. 2. Out of these, 600 shares were re-issued to Ram as fully paid up for Rs. 8 per share and 200 shares to Dham as fully paid up @ Rs. 12 at different intervals of time.

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.

Give journal entries for forfeiture and re-issued of shares : (a) X Ltd. Forfeited500 shares of Rs. 100 each, Rs. 75 called-up, issued at 10% premium (to be paid at the time of allotment) for non-payment of a first call of Rs. 20 per share. Out of these, 200 shares were re-issued as Rs. 75 paid-up for Rs. 60 per share. (b) X Ltd. forfeited 300 shares of Rs. 100 each. Rs. 75 called-up, issued at 10% premium (to be paid at the time of allotment) for non-payment of allotment money of Rs. 30 per share (including premium) and first call of Rs. 20 per share Out of these, 100 shares were re-issued as fully paid-up in such a way tha Rs. 3, 100 were transferred to capital reserve.

Give journal entries for forfeiture and re-issued of shares : (i) A Ltd. forfeited 1,000 shares of rs. 10 each, Rs. 7 called up, issued at a premium of 20% (to be paid at the time of allotment) for non-payment of a first call of Rs. 2 per share. Out of these, 600 shares were re-issued as Rs. 7 paid up for Rs. 4 per share. (ii) B Ltd. forfeited 1,000 shares of Rs. 10 each, Rs. 7 called up, issued at a premium of 20% (to be paid at the time of allotment) for no-payment of allotment money of Rs. 4 per share (including premium) and first call of Rs. 2 per share. Out of these, 600 shares were re-issued as fully paid in such a way that Rs. 900 were transferred to capital reserve.

Journalise the following : (a) Y Ltd. forfeited 400 shares of Rs. 100 each, issued at a premium of Rs. 5 per share (to be paid at the time of allotment) for non-payment of a first call of Rs. 2 per share. The second and final call of Rs. 20 has not yet been called. Out of these, 100 shares were re-issued on fully paid-up for Rs. 110 per share. (b) Y Ltd. forfeited 700 shares of Rs. 100 each, issued at a premium of Rs. 5 per share for non-payment of allotment money of Rs. 35 per share (including premium) and first call of Rs. 20 per share. The second and final call of Rs. 20 has not yet been called. 500 of these shares were re-issued as Rs. 80 paid-up for Rs. 92 per share.

Pass journal entries for the forfeiture and re-issue in the following cases : (i) A Ltd. forfeited 400 shares of Anil of Rs. 10 each fully called up for non-payment of final call of Rs. 2 per share and re-issued to Sunil as fully paid for Rs. 10 share. (ii) B Ltd. forfeited 500 shares of Rs. 10 each fully called up for non-payment of first call of Rs. 2 per share and final call of Rs. 2 per share. All of these shares were re-issued as fully paid for Rs. 8 per share. (iii) C Ltd. forfeited 600 shares of Rs. 10 each fully called up for non-payment of allotment money of Rs. 3 per share, first call of Rs. 2 per share and final call of Rs. 2 per share. 400 of these shares were re-issued as fullly paid up at the maximum rate of discount allowed by law. (iv) D Ltd. forfeited 800 shares of Rs. 10 each fully called up, on which the holder has paid only the application money of Rs. 3 per share. Out of these, 500 shares were re-issued at Rs. 11 per share, fully paid up.

Pass journal entries for the forfeiture and re-issue in the following cases : (i) A Ltd. forfeited 100 shares of Rs. 10 each fully called-up foe non-payment of first call of Rs. 3 per share and final call of Rs. 3 per share. All of these shares were re-issued as fully paid for Rs. 10 per share. (ii) B Ltd. forfeited 400 shares of Rs. 10 each fully called-up for non-payment of final call of Rs. 3 per share. 300 of these shares were re-issued as fully paid for Rs. 8 per share. (iii) C Ltd. forfeited 700 shares of Rs. 10 each fully called-up on which the holder has paid application money @ Rs. 3 and allotment money @ Rs. 2 per share. Out of these, 300 shares were re-issued as fully paid @ Rs. 7 per share. (iv) D Ltd. forfeited 1,000 shares of Rs. 10 each fully called-up on which the holder has paid only the application money @ Rs. 3 per share. Out of these, 600 shares were re-issued at Rs. 10.50 per share, fully paid up.

Y Ltd. forfeited 100 shares of Rs. 10 each issued at 20 premium (to be paid at the time of allotment) on which first call money of Rs. 3 was not received, the final call money of Rs. 2 is not yet called. These shares were subsequently re-issued at Rs. 7 per share as Rs. 8 paid-up. Give necessary journal entries regarding forfeiture and re-issue of shares.

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.