+3 votes
in Class 12 by kratos

Naman Ltd issued 20,000 shares of Rs.100 each, payable Rs.25 on application, Rs.30 on allotment , Rs.25 on first call and The balance on final call. All money duly received except Anubha, who holding 200 shares did not pay allotment and calls money and Kumkum, who holding 100 shares did not pay both the calls. The directors forfeited shares of Anubha and kumkum. Give journal entries.

1 Answer

+3 votes
by kratos
 
Best answer

Working Note:

Share forfeiture

(ii) Calls - in arrears

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