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CBSE Class 12-commerce Answered

Messrs Accountancy Publication Ltd. issued 50,000 equity shares of Rs.10 each at a premium of 10% payable as under : On application           Rs.2 On allotment (including premium of Rs.1).          Rs.5 On 1st call          Rs.2 On final call        Rs.2 The whole of the issue was called for by the company and all the moneys were duly received except the allotment and call moneys on 500 shares. These shares were, therefore, forfeited and later on re issued at Rs.9 per share as fully paid. Pass the necessary Journal entries to record the above transfer.
Asked by tuhinbhowmick33 | 23 Aug, 2019, 07:32: PM
answered-by-expert Expert Answer
This question is based on the concept of Re-issue of forfeited shares. All questions based on this topic are available on our website as textbook solutions. 
 
Detailed solutions along with complete workings will help you solve all similar problems very easily.
Answered by Surabhi Gawade | 25 Aug, 2019, 12:00: PM

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