Journal Entries:
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Particulars & Dr Amount (₹) & Cr Amount (₹) \\
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Share Capital A/c (2,000 shares × ₹ 8) & 16,000 & -- \\
Securities Premium A/c (2,000 shares × ₹ 2) & 4,000 & -- \\
To Share Forfeiture A/c (2,000 shares × ₹ 3) & -- & 6,000 \\
To Share Allotment A/c (2,000 shares × ₹ 5) & -- & 10,000 \\
(Forfeiture of 2,000 shares due to non-payment of allotment money) & & \\
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Bank A/c (1,500 shares × ₹ 7) & 10,500 & -- \\
Share Forfeiture A/c (1,500 shares × ₹ 1) & 1,500 & -- \\
To Share Capital A/c (1,500 shares × ₹ 8) & -- & 12,000 \\
(Reissue of 1,500 forfeited shares at ₹ 7 per share, ₹ 8 paid up) & & \\
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Share Forfeiture A/c & 4,500 & -- \\
To Capital Reserve A/c & -- & 4,500 \\
(Transfer of surplus from reissue of shares to Capital Reserve) & & \\
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