Anu Company forfeited 200 equity shares of Rs.10 each issued at par held by Thiyagu for nonpayment of the final call of  Rs.3 per share. The shares were reissued to Laxman at Rs.6 per share. Show the journal entries for forfeiture and reissue.

Maruthu Ltd. forfeited 150 equity shares of  Rs.10 each for non payment of final call of Rs.4 per share. Of these 100 shares were reissued @ Rs.9 per share. Pass journal entries for forfeiture and reissue.

Gemini Ltd. forfeited 20 equity shares of Rs.10 each, Rs.7 called up, on which Mahesh had paid application and allotment money of Rs.5 per share. Of these 15 shares were reissued to Naresh by receiving Rs.6 per share paid up as Rs.7 per share. Pass journal entries for forfeiture and reissue.

Sara Company issues 10,000 equity shares of Rs.10 each payable fully on application. Pass journal entries if the shares are issued
(i) at par
(ii) at a premium of Rs.2 per share.

Rajan Ltd. purchased machinery of Rs.6,00,000 from Jagan Traders. It issued equity shares of Rs.10 each fully paid in satisfaction of their claim. What entries will be made if such issue is made:
(a) at par and
(b) at a premium of 50%.

Write a brief note on calls in advance.

What is reissue of forfeited shares?

Write a short note on
(a) Authorised capital
(b) Reserve capital

What is meant by issue of shares for consideration other than cash?

Muthu Ltd. issued 50,000 shares of Rs.10 each payable as follows;
Rs.2 on application; Rs.4 on allotment; Rs.4 on first and final call.
All money were duly received except one shareholder holding 1,000 shares failed to pay the call money. Pass the necessary journal entries for calls by using calls in arrear account.

Arjun was holding 1,000 shares of Rs.10 each of Vanavil Electronics Ltd, issued at par. He paid Rs.3 on application, Rs.4 on allotment but could not pay the first and final call of Rs.3. The directors forfeited the shares for nonpayment of call money. Give Journal entry for forfeiture of shares.

Lakshith was holding 50 shares of Rs.10 each on which he paid Rs.2 on application but could not pay Rs.4 on allotment and Rs.2 on first call. Directors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares.

Goutham Ltd. forfeited 500 equity shares of Rs.10 each issued at par held by Ragav for nonpayment of the final call of Rs.2 per share. The shares were forfeited and reissued to Madhan at Rs.8 per share. Show the journal entries for forfeiture and reissue.

Nivetha Ltd. forfeited 1,000 equity shares of Rs.10 each for non payment of call of Rs.4 per share. Of these 800 shares were reissued @ Rs.7 per share. Pass journal entries for forfeiture and reissue.

Nathiya Textiles Ltd. forfeited 100 shares of Rs.10 each, Rs.8 called up, on which Mayuri had paid application and allotment money of Rs.6 per share. Of these 75 shares were re-issued to Soundarya by receiving Rs.7 per share paid up as Rs.8 per share. Pass journal entries for forfeiture and reissue.

Abdul Ltd. issues 50,000 shares of Rs.10 each payable fully on application. Pass journal entries if shares are issued
(i) at par
(ii) at a premium of
(iii) 3 per share.

Paradise Ltd. purchased assets of Rs.4,40,000 from Suguna Furniture Ltd. It issued equity shares of Rs.10 each fully paid in satisfaction of their claim. What entries will be made if such issue is:
(a) at par and
(b) at premium of 10%.