Q1/ X ltd forfeitured 200 shares of Ravi of Rs10. each . Rs8 called up on which he had paid application and allotment money of Rs3 per share .Out of these 100 shares were re-issued as fully paid up for Rs8 per share.pass the journal entry.
Q2/ Y Ltd forfetured 300 shares of Rs10 each Rs7 called up for non-payment of the first call of Rs2 per share. Out of these,100 shares were immediately re-issued at Rs6 per share. Out of these ,100 shares were immediately re-issued at Rs6 per share .Pass te Journal entry.
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