Journal entries for the forfeiture of shares in the books of the company:

1. Journal entry for the application money received:
Date Particulars Debit Credit
[Date] Share Application A/c Dr. 500
To Share Capital A/c 500
(Being the application money received for 50 shares @ Rs 10 per share)

2. Journal entry for the allotment money received:
Date Particulars Debit Credit
[Date] Share Allotment A/c Dr. 1,000
To Share Capital A/c 1,000
(Being the allotment money received for 50 shares @ Rs 20 per share)

3. Journal entry for the forfeiture of shares:
Date Particulars Debit Credit
[Date] Share Capital A/c Dr. 1,000
Share Forfeiture A/c Dr. 1,000
To Shareholders' A/c 2,000
(Being the forfeiture of 50 shares @ Rs 20 per share)

Date Particulars Debit Credit
[Date] Share Forfeiture A/c Dr. 1,000
To Share Capital A/c 1,000
(Being the cancellation of forfeited shares)

4. Journal entry for the transfer of forfeited shares to the capital reserve:
Date Particulars Debit Credit
[Date] Share Forfeiture A/c Dr. 1,000
To Capital Reserve A/c 1,000
(Being the transfer of forfeited shares to the capital reserve)

Explanation:
- Virendra had initially purchased 50 shares at Rs 50 each, amounting to a total of Rs 2,500 (50 shares x Rs 50/share).
- On application, Virendra paid Rs 10 per share, totaling Rs 500 (50 shares x Rs 10/share).
- On allotment, Virendra paid Rs 20 per share, totaling Rs 1,000 (50 shares x Rs 20/share).
- However, Virendra failed to pay the call money of Rs 20 per share, amounting to Rs 1,000 (50 shares x Rs 20/share).
- As a result, the company forfeited Virendra's shares.
- The first journal entry records the receipt of application money in the Share Application Account, which increases the Share Capital Account.
- The second journal entry records the receipt of allotment money in the Share Allotment Account, also increasing the Share Capital Account.
- The third journal entry represents the forfeiture of shares, debiting the Share Capital Account and the Share Forfeiture Account while crediting the Shareholders' Account.
- The fourth journal entry cancels the forfeited shares by debiting the Share Forfeiture Account and crediting the Share Capital Account.
- The final journal entry transfers the forfeited shares to the Capital Reserve Account, debiting the Share Forfeiture Account and crediting the Capital Reserve Account.