The Directors of M Ltd. resolved on 1st May, 2015 that 2,000 Equity Shares of Rs. 10 each, Rs. 7.5
Channel: Doubtnut
Date: 2020-03-29

The Directors of M Ltd. resolved on 1st May, 2015 that 2,000 Equity Shares of Rs. 10 each, Rs. 7.50 paid be forfeited for non-payment of final call of Rs. 2.50 . On 10th June, 2015, 1,800 of these shares were reissued for Rs. 6 per share. Give necessary Journal entries.