The directors of a company forfeited 1,000 equity shares of Rs. 10 each (fully call
Channel: Doubtnut
Date: 2020-04-26

The directors of a company forfeited 1,000 equity shares of Rs. 10 each (fully called) on which Rs. 4,00 had been paid. 400 of these shares were re-issued upon payment of Rs. 3,000. Journalise the transactions of forfeiture and re-issue of shares.