Question
Give journal entries for the forfeiture and re-issue of shares: X Ltd. Forfeited 10 shares of Rs.10 each (Rs.6 called up) issued at a discount
Give journal entries for the forfeiture and re-issue of shares: X Ltd. Forfeited 10 shares of Rs.10 each (Rs.6 called up) issued at a discount of 10% to Neeta on which she had paid Rs.2 per share. Out of these, 8 shares were re-issued to Meeta as Rs.8 called up for Rs.6 per share.
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
