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Forfeiture of shares

Accountancy

Is this correct: Forfeiture shares a/c 50,000 To Capital Reserve a/c 50,000

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Lathika

CA Inter

★ 6K+

16-May-23 22:42

569

Answers (5)

Share capital A/c Dr. 1,00,000 To calls in arrears A/c. 40,000 To share forfeiture A/c 60,000

Jitendra Kumar

CA Final

★ 41K+

16-May-23 23:09

But this entry will not come like this Equity share capital a/c 1,00,000 To equity first call 20,000 To equity final call 20,000 To Forfeiture shares 80,000 Actually I need the entry of transfering the forfeiture into capital reserve.

Thread Starter

Lathika

CA Inter

★ 6K+

17-May-23 05:31

Sry actually the forfeiture amount is 60,000

Thread Starter

Lathika

CA Inter

★ 6K+

17-May-23 05:35

Jitendra Kumar

Share capital A/c Dr. 1,00,000 To calls in arrears A/c. 40,000 To share forfeiture A/c 60,000

Bro what is entry for capita reserve whether my ans is correct

Thread Starter

Lathika

CA Inter

★ 6K+

17-May-23 05:40

Thread Starter

Lathika

But this entry will not come like this Equity share capital a/c 1,00,000 To equity first call 20,000 To equity final call 20,000 To Forfeiture shares 80,000 Actually I need the entry of transfering the forfeiture into capital reserve.

It is also correct

Jitendra Kumar

CA Final

★ 41K+

17-May-23 11:34

Forfeiture of shares

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