Gopu Industries Ltd. issued 50,000 shares of 20 each at par. The following are the details of
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Gopu Industries Ltd. issued 50,000 shares of ₹20 each at par. The following are the details of the amounts payable.
Except Rajan, a shareholder holding 1,000 shares who failed to pay the allotment amount and the first call, all the other amounts were received. On 15th March 1998, the shares of Rajan were forfeited.
Show the journal entries in the books of the company for the above transactions.
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To record the issuance of shares the receipt of various amounts and the subsequent forfeiture of shares in the books of Gopu Industries Ltd we will cr...View the full answer
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