170 Wason's Double Entry Book Keeping Part B-X Forfeiture and re-issue of shares which were originally issued at premium 32. Ganesh Ltd forfeited 1,200 shares of? 10 each, issued at a premium of 2 per share (to be paid the time of allotment) for non-payment of first and final call of 2 per share. 500 of these share were re-issued to Mr. X for 7 per share fully paid up. Journalise fully paid up. Journalise. (Ans: Amount Forfeited 9,600; Capital Reserve 2,5 33. Sunder Ltd. forfeited 1,200 shares of 10 each, issued at a premium of 2 per share (to be paid a the time of allotment) for non-payment of allotment money of 5 per share (including premium and final call money of 2 per share. 500 of these shares were re-issued to Mr. X for 27 per sha (Ans.: Amount Forfeited 6,000; Capital Reserve 1.000 34. Durga Ltd. forfeited 100 shares of 10 each, issued at a premium of 3 per share (to be paid a the time of allotment) for non-payment of first call of 3 per share. The second and final calle 2 per share is yet to be made. Out of these, 80 shares were re-issued at 8 per share, fully pai (Ans.: Amount Forfeited 500; Capital Reserve 24 35. Sharda Ltd. forfeited 400 shares of 10 each issued at 30% premium held by Mr. R (8 called u on which he did not pay 5 on allotment (including premium) and first call of 3. Out of these, 160 shares were re-issued to Mr. T as 8 paid up for ? 6 per share and 120 shares to Mr. S as fully up. Journalise. paid up for 11 per share at different intervals of time. Journalise. f (Ans.: Amount Forfeited 1,200; Capital Reserve 52 36. 50 shares of 10 each, issued at a premium of 5 per share, were forfeited by Sohan Ltd. for the non-payment of allotment money of 9 per share (including premium). The first and final call these shares at 3 per share was not made. Forfeited shares were re-issued @ 12 per share, fully Ans.: Amount Forfeited 150; Capital Reserve 15 37. Amba Ltd. forfeited 100 shares of 10 each, 8 called up for non-payment of allotment money of *5 per share and first call of *2 per share. These shares were issued at premium of 4 per share (to be paid at the time of allotment) 60 of these forfeited shares were re-issued @ 8 per share Final Call was not made till re-issue. Journalise. paid up. Journalise. ₹ Ans.: Amount Forfeited 500; Capital Reserve 300 38. XYZ Ltd. forfeited 50 shares of 10 issued at a premium of 2 per share for non-payment of allotment money of 4 (including premium) per share and first call money of 3 per share. Second and final call of 3 per share was yet to be made. These shares were re-issued at 8 per share, Ans.: Amount Forfeited100; Capital Reserve Nil credited as fully paid. Journalise. 39. Ram Ltd. forfeited the shares of Mr. X who had applied for 300 shares of 10 each at a premium of 3 per share but was allotted 100 shares on pro rata basis paid application and allotment of *2 and 7 (including premium) but failed to pay first call of 1 per share, and on his subsequent failure to pay second and final call of 3 per share, his shares were forfeited. and re-issue of shares. These shares were re-issued @*6 per share credited as fully paid. Give journal entries of forfeiture Ans.: Amount Forfeited 600; Capital Reserve 200 40. Tulsi Ltd. forfeited the shares of Mr. X who had applied for 250 shares of 10 each at a premium of 2 per share but was allotted only 100 shares on pro rata basis. Mr. X, failed to pay allotment money of * 5 per share including premium and on his subsequent failure to pay first and final ca of 5 per share, his shares were forfeited. Out of these, 50 shares were re-issued to Mr. C @ 8p share, 9 paid up. Journalise. Ans.: Amount Forfeited 500; Capital Reserve 200 41. A company forfeited time of allotment) is yet to be made. Give necessary Jo 42. T Ltd. invited ap share was payabl 30 on applicati 40 on allotmen 20 on first call 20 on final call Applications re pro rata basis. Mr. R, a holder his shares were 43. Uma Ltd. invite follows: On Application On Allotment On first call On final call All the shares were forfeited 44. Radha Ltd. w shares were 20 per share 5 premium All the mone first call mo per share fu Mihir Ltd. I On Applica On Allotme On First & The Appli duly receiv 500 shares (Ans.: Mone 46. Feroz Ltd as follows On applic On allotn On first a