Prayuj Ltd. forfeited 2,000 shares of Rs. 10 each, fully called up, on which they had received
Channel: Doubtnut
Date: 2020-04-26

Prayuj Ltd. forfeited 2,000 shares of Rs. 10 each, fully called up, on which they had received only Rs. 14,000.50 of the forfeited shares were reissued for RS. 9 per share fully paid up. Pass necessary journal entries for foreiture and re-issue of shares. Also prepare share forfeited account.