Radhika Limited issued 50,000 shares of Rs 10 each. The due amount was

1.	Radhika Limited issued 50,000 shares of Rs 10 each. The due amount was received except on 1,000 shares on which Rs 6 per share was received. These 1,000 shares were forfeited and 700 shares were reissued for Rs 8 each fully paid-up. Show the Forfeited Shares Account and the Balance Sheet as at closing date.
Answer» Radhika Limited issued 50,000 shares of Rs 10 each. The due amount was received except on 1,000 shares on which Rs 6 per share was received. These 1,000 shares were forfeited and 700 shares were reissued for Rs 8 each fully paid-up. Show the Forfeited Shares Account and the Balance Sheet as at closing date.

Radhika Limited issued 50,000 shares of Rs 10 each. The due amount was received except on 1,000 shares on which Rs 6 per share was received. These 1,000 shares were forfeited and 700 shares were reissued for Rs 8 each fully paid-up. Show the Forfeited Shares Account and the Balance Sheet as at closing date.

Answer»

Radhika Limited issued 50,000 shares of Rs 10 each. The due amount was received except on 1,000 shares on which Rs 6 per share was received. These 1,000 shares were forfeited and 700 shares were reissued for Rs 8 each fully paid-up.

Show the Forfeited Shares Account and the Balance Sheet as at closing date.

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