1.

Gaurav applied for 5,000 shares of ₹ 10 each at a premium of 2.50 per share. But he was allotted only 2,500 shares on pro rata basis. After having paid ₹ 3 per share on application, he did not pay allotment money of ₹ 4.50 per share (including premium) and on his subsequent failure to pay the first call of ₹ 2 per share, his shares were forfeited. These shares were reissued at the rate of ₹ 8 per share credited as fully paid. Pass journal entries to record the forfeiture and reissue of shares.

Answer»

TE YOUR ANSWER ISBut he was allotted only 2500 SHARES on pro rata basis. After having PAID RS. 3 per share on application, he did not pay allotment money of Rs. 4.50 pHOPE THIS HELPS ❤️PLEASE MARK AS BRAINLIEST ❤️



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