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
Gaurav applied for 5000 shares of ₹10 each at premium of 2.50 per sha...
7500