Question - 56

Amit holds 100 shares of Rs. 10 each on which he has paid Rs. 1 per share on application money Bimal holds 200 shares of Rs. 10 each on which he has paid Rs. 1 and Rs. 2 per share as application and allotment money, respectively Chetan holds 300 shares of Rs. 10 each and has apid Rs. 1 on application, Rs 2 on allotment and Rs. 3 for the first call they all failed to pay their arrears anf the second call of Rs. 2 per share and the directors therefore forfeited their shares the shares are reissued subsequently for Rs. 11 per sahre as full padi Journalize the transactions.

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