Mr. Raghu was holding 4,000 shares of 10 each of Jayanthi Ltd. The shares were issued at
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Mr. Raghu was holding 4,000 shares of ₹10 each of Jayanthi Ltd. The shares were issued at par and he had paid ₹3 on application and ₹4 on allotment. He did not pay the call money of ₹3 per share. The directors forfeited the shares and then, re-issued by the company to Madan at ₹8 per share. Pass journal entries with narration to record the forfeiture and re-issue of shares.
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Date Particulars Share Capital Ac Journal Entries To Share Final Call Ac To Shares Forfeited A...View the full answer
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