Rahul was allotted 65,00050,000×2,600=2,000 shares. Final call is not yet made, so amount called = Rs.8 (capital portion) per share; Share Capital Dr = 2,000×8=16,000. First call premium of Rs.2 was credited but unpaid, so Securities Premium Reserve Dr 4,000. First call unpaid = Rs.10,000. Capital actually received (application + allotment capital) = Rs.10,000, credited to Share Forfeiture A/c.
Record journal entry for forfeiture of Rahul's shares.
CUET UG 2023 — Accountancy Company Accounts
2023mcqeasy
Record journal entry for forfeiture of Rahul's shares.
Official previous-year question
Held on 20 Jun 2023 · Verified 13 Jul 2026.
Options
- A
Share Capital A/c Dr 20,000 ---
Securities Premium Reserve A/c Dr 10,000 ---
To Share 1st call A/c 10,000
To Share final call A/c 4,000
To Share forfeiture A/c 16,000 - B
Share Capital A/c Dr 20,000 ---
To Share 1st call A/c 10,000
To Share final call A/c 4,000
To Share forfeiture A/c 6,000 - C
Share Capital A/c Dr 16,000
Securities Premium Reserve A/c Dr 4,000
To Share 1st call A/c 10,000
To Share forfeiture A/c 10,000 - D
Share Capital A/c Dr 16,000
To Calls in Arrears A/c 10,000
To Share forfeiture A/c 6,000
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