Practicing Success
R.Ltd invited applications for 15,000 shares of ₹10 each at premium of ₹2 per share. The amount was payable as follows: On the basis of the above information answer the question. |
Record the journal entry for forfeiture of shares. |
Share Capital A/c Dr ₹30000 Bank A/c Dr. ₹30000 Share Capital A/c Dr ₹30,000 Share capital A/c Dr. ₹30000 |
Share Capital A/c Dr ₹30,000 |
Hari did not pay first and final call on 3000 shares. He paid allotment money on which securities premium is paid so there is no use of securities premium reserve. |