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Disclosure of Share Capital

Amount of for...

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Amount of forfeited shares is shown by subtracting it to subscribed capital.

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False

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Q. The Hindustan Manufacturing Ltd. had a total subscribed capital of ₹ 10,00,000 in Equity Shares of ₹ 10 each of which ₹ 7.50 were called-up. A final call of ₹ 2.50 was made and all amount paid except two calls of ₹ 2.50 each in respect of 100 shares held by D . These shares were forfeited and reissued at ₹ 8 per share .
Pass necessary journal entries (including that of cash) to record the transactions of final call , forfeiture of shares and reissue of forfeited shares . Also, prepare the Balance Sheet of the company.

Amount of forfeited shares is shown by ________ to subscribed capital.

Q. IN question no. 50 of T.S Grewalbook page no. 7.105 why share forfeited{300 muliplied by 6} is added to subscribed capital.

Q. In case of forfeiture, we debit share capital account by the total amount by the company so far for the forfeited shares.

What amount should be entered in capital reserve account when share forfeited in forfeited entry is equal to share forfeited in reissue entry?

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