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Record the journal entries for forfeiture and reissue of shares in the following cases: (i) X Ltd. forfeited 20 shares of ₹ 10 each, ₹ 7 called-up on which the shareholder had paid application and allotment money of ₹ 5 per share. Out of these, 15 shares were reissued to Naresh as ₹ 7 per share paid-up for ₹ 8 per share. (ii) Y Ltd. forfeited 90 shares of ₹ 10 each, ₹ 8 called-up issued at a premium of ₹ 2 per share to R for non-payment of allotment money of ₹ 5 per share (including premium). Out of these, 80 shares were reissued to Sanjay as ₹ 8 called-up for ₹ 10 per share. |
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Answer» WER TO THIS QUESTION 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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