B Ltd. forfeited 2000 equity shares of ₹10 each, ₹8 called up for non-payment of first call money of ₹2 each. The company has already received ₹2 on application and ₹4 on allotment on these shares. Out of the shares forf

Journal Entries in the books of B Ltd. Particulars Debit (₹) Credit (₹) 1. Equity Share Capital A/c Dr. 16,000 To Share Forfeited A/c 12,000 To Equity Share Capital First Call/Call in arrears A/c 4,000 (Being 2000 Equity shares of ₹8 called up forfeited for non-payment of first call of ₹2) 2. Bank A/c Dr. 10,500 Share Forfeited A/c Dr. 1,500 To Equity Share Capital A/c 12,000 (Being re-issue of 1500 shares @ ₹8 at a discount of ₹1) 3. Share Forfeited A/c Dr. 7,500 To Capital Reserve A/c 7,500