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Journal Entries for Re-Issue of Shares

The part of t...

Question

The part of the gain on forfeiture which pertains to re-issued shares is transferred to account.

A

bank

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B

share capital

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C

capital reserve

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D

share forfeiture

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Solution

The correct option is C capital reserve
The part of the gain on forfeiture which pertains to re-issued shares is transferred to capital reserve account.

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Q. Sumona Ltd. re-issued 3,000 shares of ₹10 each which were forfeited by crediting share forfeiture account by ₹4,500. These shares were re-issued at ₹9 per share. The amount transferred to capital reserve will be:

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Q. Any balance in the share forfeiture account after all the forfeited share are re-issued should be:

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Journal Entries for Re-Issue of Shares

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