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Bharat ltd forfeited 200shares of 10each fully called up held by naveen for nonpayment if allotment money of 3per shares and first call of 4per shares he paid application money of 3per shares these shares were reissu ed to amit for 8per shares |
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Answer» feiture:SHARE CAPITAL DR. 2000To share forfeiture 600To calls in ARREARS 1400For reissueBank Dr. 1600Share forfeiture Dr. 400To Share capital 2000For transfer to capital reserveShare forfeiture Dr.200To capital reserve 200 |
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