question_answer

X Ltd. forfeited 200 shares of Rs.10 each Rs.8 called up, on which he had paid application and allotment money of Rs.5 per share. Out of these, 150 shares were re-issued as fully paid up for Rs.8 per share. Journal entry for reissue of share will be:

A)

Bank A/c	Dr.	1200
Share forfeiture A/c	Dr.	300
To Equity share capital A/c			1500

 

B)

Bank A/c	Dr.	1200
Discount A/c	Dr.	300
To Equity share capital A/c			1500

 

C)

Bank A/c	Dr.	1200
To Equity share capital A/c			1200

 

D)

Bank A/c	Dr.	1500
To Equity share capital A/c			1500