Question - 50

Give journal entries for the following :

  1. The directors forfeited 200 shares issued to 'A' on acount of non-payment of the final call of Rs. 20 these shares of Rs. 100 each were reissued to 'B' at a premium of Rs. 10 each share.
  2. 'B's 100 shares of Rs. 100 each were forfeited due to non-payment of first and final call of Rs. 50 and reissued to 'C' for Rs. 60 per sahre fully paid.

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