Girish Ltd hold on 31 March, 2008 40,000 Equity Shares of Rs. 10, Rs. 8 per share called up in September, 2008 the company decided to reduce Rs. 10 shares to Rs. 8 shares as fully paid by cancellingunpaid amount of Rs. 2 per share. Pass Journal Entries.

Girish Ltd hold on 31 March, 2008 40,000 Equity Shares of Rs. 10, Rs.

1.	Girish Ltd hold on 31 March, 2008 40,000 Equity Shares of Rs. 10, Rs. 8 per share called up in September, 2008 the company decided to reduce Rs. 10 shares to Rs. 8 shares as fully paid by cancellingunpaid amount of Rs. 2 per share. Pass Journal Entries.
Answer» EQUITY share capital a/c DR 320000calls in arrear a/c dr 80000 To share forefiture a/c 320000

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Girish Ltd hold on 31 March, 2008 40,000 Equity Shares of Rs. 10, Rs. 8 per share called up in September, 2008 the company decided to reduce Rs. 10 shares to Rs. 8 shares as fully paid by cancellingunpaid amount of Rs. 2 per share. Pass Journal Entries.​

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Girish Ltd hold on 31 March, 2008 40,000 Equity Shares of Rs. 10, Rs. 8 per share called up in September, 2008 the company decided to reduce Rs. 10 shares to Rs. 8 shares as fully paid by cancellingunpaid amount of Rs. 2 per share. Pass Journal Entries.