(Calculation of Gain on reissue when only a Part of Shares Forfeited are reissued). Alok Ltd
Channel: Doubtnut
Date: 29/03/2020

(Calculation of Gain on reissue when only a Part of Shares Forfeited are reissued). Alok Ltd. forfeited 300 Equity Shares of Rs. 10 each, fully called-up, held by Ram for non-payment of allotment money of Rs. 3 per equity share and first and final call money of Rs. 4 per equity share. Out of these, 250 shares were reissued to Shyam for a total payment of Rs. 2,000. Pass Journal entries for forfeiture and reissue.