The Directors of a company forfeited 300 shares of ₹ 10 each issued at a premium of ₹ 3 per share, for the nonpayment of the first call money of ₹ 2 per share. The final call of ₹ 2 per share has not been made. Half the forfeited shares were reissued at ₹ 1,500 as fully paid-up. Record the Journal entries for the forfeiture and reissue of shares.

[Ans.; Capital Reserve – ₹ 900.]

Anurag Pathak Changed status to publish September 8, 2023