Hero Honda Limited made an issue of 1,00,000 Equity Shares of Rs 10 ea

1.	Hero Honda Limited made an issue of 1,00,000 Equity Shares of Rs 10 each, payable as follows: On Application Rs 2.50 per share On Allotment Rs 2.50 per share On Call Balance Amount Members holding 400 shares did not pay the call money and the shares were duly forfeited. 200 of the forfeited shares were reissued as fully paid at Rs 5 per share. Draft necessary journal entries and prepare share capital and forfeited shares accounts in the books.
Answer» Hero Honda Limited made an issue of 1,00,000 Equity Shares of Rs 10 each, payable as follows: On Application Rs 2.50 per share On Allotment Rs 2.50 per share On Call Balance Amount Members holding 400 shares did not pay the call money and the shares were duly forfeited. 200 of the forfeited shares were reissued as fully paid at Rs 5 per share. Draft necessary journal entries and prepare share capital and forfeited shares accounts in the books.

Hero Honda Limited made an issue of 1,00,000 Equity Shares of Rs 10 each, payable as follows: On Application Rs 2.50 per share On Allotment Rs 2.50 per share On Call Balance Amount Members holding 400 shares did not pay the call money and the shares were duly forfeited. 200 of the forfeited shares were reissued as fully paid at Rs 5 per share. Draft necessary journal entries and prepare share capital and forfeited shares accounts in the books.

Answer»

Hero Honda Limited made an issue of 1,00,000 Equity Shares of Rs 10 each, payable as follows:

On Application Rs 2.50 per share

On Allotment Rs 2.50 per share

On Call Balance Amount

Members holding 400 shares did not pay the call money and the shares were duly forfeited. 200 of the forfeited shares were reissued as fully paid at Rs 5 per share.

Draft necessary journal entries and prepare share capital and forfeited shares accounts in the books.

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