Answer:
Particulars Amt Amt
1) Share Capital A/c Dr
To share allotment a/c
To share first call a/c
To share second call a/c
To share forfeiture a/c
( Being share @ per share called up
forfeited after making second call)
2) Bank a/c Dr
To sh.capital a/c
To securities a/c
( Being share @ each per share
fully paid up reissued)
3) share forfeited a/c Dr
To capital reserve a/c
(Being balance of share forfeited account
transferred to capital reserve a/c after reissue)
Working note: -
TOTAL MONEY CALLED-UP RS.
Application
Allotment
First call
Second call
Total =
Amount transferred to share forfeited
application money received from Amit ( share)
Application and allotment money received from Bimal ( share )
application, allotment and first call received from Chetan ( share )
Amount transferred to share forfeited
CALCULATION OF CAPITAL RESERVE
As share are reissued at price higher than face value hence full amount of share forfeited will be transferred to capital reserve
Hope this answer was helpful!!!