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A company forfeited 4,000 shares of ₹ 10 each fully called-up, on which application money of ₹ 3 each has been paid. Out of these, 2,000 shares were reissued as fully paid-up for ₹ 18,000.

Pass necessary Journal entries for above transactions.

[Ans.: Capital Reserve – ₹ 4,000.]

Anurag Pathak Answered question September 9, 2024
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