WebbThe directors of a company forfeited 1 0 0 0 shares of Rs. 1 0 each, Rs. 7. 5 0 paid up, for non payment of final call money of Rs. 2. 5 0 per share. 7 0 0 of these shares are reissued @ Rs. 7 / − per share. The amount transferred to capital reserve A/c would be_____. Webb10 nov. 2024 · A forfeited share is a share that is lost if the purchaser does not comply with the requirements for buying it. Forfeited shares only apply to publicly listed …
Forfeiture of Shares - Company Wizard
WebbAfter the shares are forfeited, the company can re-issue the shares, in this case it is known as re-issue of forfeited shares or reissue of shares. For reissue of shares, the company … Webb21 juni 2024 · Forfeiture of Share; As Forfeiture of shares is a serious step since it involves in depriving a person of his property as a penalty of some act or omission. So … chipmunk\u0027s 1s
Forfeiture of Shares: Meaning, Accounting Treatment, Solved …
Webb29 sep. 2024 · Two calls and his shares were forfeited after the second call. Of the shares forfeited, 1200 shares were sold to Kapil for Rs.85 per share as fully paid, the whole of Rohit’s shares being included. Record necessary journal entries. More Resources for CBSE Class 12 RD Sharma class 12 Solutions NCERT Solutions for Class 12th English Flamingo WebbEntry for forfeiture of shares : Share capital A/c Dr 5,400 ( 300 x 18 ) Number of share forfeited x Called up value. To Share allotment A/c 3,600 ( 300 x 12 ) Amount not paid on allotment. To Share first call A/c 600 ( 300 x 2 ) Amount not paid on first call. To Share forfeiture A/c 1,200 ( 300 x 4 ) Amount received on shares forfeited. WebbDirectors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares. Solution. Tutorial note. Equity share capital is debited with the called up amount of ₹ 6. 6. Re-issue of forfeited shares. Shares forfeited can be reissued by the company. The shares can be reissued at any price. grants pass county courthouse