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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. |
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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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