Kim Ltd. Issued 4,00,000 equity shares of $ 10 each at a premium of $20 per share. The amount were receivable as follows: Capital Premium Total $ $ $ Application 1 9 10 Allotment 2 8 10 Final call 7 3 10 10 20 30 All members except Mr. Unfortunate paid the amounts due to allotment and call. Mr. Unfortunate who was allotted 300 shares failed to pay call money. His shares were forfeited after due compliance with law. These shares were re-issued to Hopeful at a price of $25 per share. You are asked to pass the Journal Entries on: (a) Forfeiture (b) Re-issue. Also show the presentation in Balance Sheet before and after forfeiture and after re-issue