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Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per share... But he was allotted only 2500 shares on pro data basis. After having paid 3 per share on application he did not paid allotment money on 4.50 per share including premium and on his subsequent failure to first call of ₹2 per share his shares were for fitted. These shares were reissued at 8 per share credited as fully paid. Pass the journal entries for feature and reissue of shares.
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Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per sha...
**Journal Entries for Forfeiture of Shares:**

1. On Application:
- Dr. Share Application A/c (5000 shares x ₹10) ₹50,000
- Dr. Share Premium A/c (5000 shares x ₹2.50) ₹12,500
- Cr. Bank A/c (Application money received) ₹15,000
- Cr. Share Capital A/c (2500 shares x ₹10) ₹25,000
- Cr. Share Application A/c (2500 shares x ₹10) ₹25,000
- Cr. Share Premium A/c (2500 shares x ₹2.50) ₹6,250

2. On Allotment (Not Paid):
- Dr. Share Allotment A/c (2500 shares x ₹4.50) ₹11,250
- Cr. Share Capital A/c (2500 shares x ₹10) ₹25,000
- Cr. Share Allotment A/c (2500 shares x ₹4.50) ₹11,250

3. On First Call (Not Paid):
- Dr. Share First Call A/c (2500 shares x ₹2) ₹5,000
- Cr. Share Capital A/c (2500 shares x ₹10) ₹25,000
- Cr. Share First Call A/c (2500 shares x ₹2) ₹5,000

4. On Forfeiture:
- Dr. Share Capital A/c (2500 shares x ₹10) ₹25,000
- Dr. Share Premium A/c (2500 shares x ₹2.50) ₹6,250
- Dr. Share Allotment A/c (2500 shares x ₹4.50) ₹11,250
- Dr. Share First Call A/c (2500 shares x ₹2) ₹5,000
- Cr. Share Forfeiture A/c (2500 shares x ₹10) ₹25,000
- Cr. Share Forfeiture A/c (2500 shares x ₹2.50) ₹6,250
- Cr. Share Forfeiture A/c (2500 shares x ₹4.50) ₹11,250
- Cr. Share Forfeiture A/c (2500 shares x ₹2) ₹5,000

**Journal Entries for Reissue of Shares:**

1. On Reissue:
- Dr. Bank A/c (Reissue amount received) ₹20,000
- Cr. Share Forfeiture A/c (2500 shares x ₹10) ₹25,000
- Cr. Share Premium A/c (2500 shares x ₹2.50) ₹6,250
- Cr. Share Forfeiture A/c (2500 shares x ₹4.50) ₹11,250
- Cr. Share Forfeiture A/c (2500 shares x ₹2) ₹5,000
- Cr. Share Capital A/c (2500 shares x ₹10) ₹25,000
- Cr. Share Premium A/c (2500 shares x ₹2.50) ₹6,250
- Cr. Share Forfeiture A/c
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Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per sha...
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Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per share... But he was allotted only 2500 shares on pro data basis. After having paid 3 per share on application he did not paid allotment money on 4.50 per share including premium and on his subsequent failure to first call of ₹2 per share his shares were for fitted. These shares were reissued at 8 per share credited as fully paid. Pass the journal entries for feature and reissue of shares.
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Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per share... But he was allotted only 2500 shares on pro data basis. After having paid 3 per share on application he did not paid allotment money on 4.50 per share including premium and on his subsequent failure to first call of ₹2 per share his shares were for fitted. These shares were reissued at 8 per share credited as fully paid. Pass the journal entries for feature and reissue of shares. for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per share... But he was allotted only 2500 shares on pro data basis. After having paid 3 per share on application he did not paid allotment money on 4.50 per share including premium and on his subsequent failure to first call of ₹2 per share his shares were for fitted. These shares were reissued at 8 per share credited as fully paid. Pass the journal entries for feature and reissue of shares. covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per share... But he was allotted only 2500 shares on pro data basis. After having paid 3 per share on application he did not paid allotment money on 4.50 per share including premium and on his subsequent failure to first call of ₹2 per share his shares were for fitted. These shares were reissued at 8 per share credited as fully paid. Pass the journal entries for feature and reissue of shares. .
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