X Ltd. forfeited 10 shares of 10 each (6 called up) issued at a discount of 10%
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X Ltd. forfeited 10 shares of ₹10 each (₹6 called up) issued at a discount of 10% to Neeru, on which she had paid ₹2 per share. Out of these, 8 shares were reissued to Meera as ₹8 called up, for ₹6 per share. Journalise.
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When shares are forfeited due to nonpayment of calls and some of the forfeited shares are subsequent...View the full answer
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