National Chemicals Ltd. forfeited 500 shares of ₹ 100 each issued at 10% premium (to be paid at the time of allotment)
National Chemicals Ltd. forfeited 500 shares of ₹ 100 each issued at 10% premium (to be paid at the time of allotment) on which the first call of ₹ 30 per share was not received, the second and the final call of ₹ 20 per share was not yet called.
Give Journal entries regarding the forfeiture and reissue of shares in each of the following alternative cases:
| Case 1: | If 200 of these shares were reissued at ₹ 80 paid-up for ₹ 90 per share. |
| Case 2: | If 200 of these shares were reissued at ₹ 80 called-up for ₹ 90 per share. |
| Case 3: | If 200 of these shares were reissued at ₹ 80 paid-up for ₹ 70 per share. |
| Case 4: | If 200 of these shares were reissued at ₹ 80 paid-up for ₹ 30 per share. |
Anurag Pathak Changed status to publish March 9, 2024
