Share Capital A/c (150 x  Rs. 10) ...Dr.

1,500

Securities Premium Reserve A/c (150 x  Rs. 5) ...Dr.

750

To Forfeited Shares A/c (150 x  Rs. 2)

300

To Shares Allotment A/c (150 x  Rs. 8)

1,200

To Shares First Call A/c (150 x  Rs. 2)

300

To Shares Second and Final Call A/c (150 x  Rs. 3)

(150 shares forfeited for non-payment of allotment and both the calls)

450

Bank A/c (100 x  Rs. 14) ...Dr.

1,400

To Share Capital A/c (100 xT 10)

1,000

To Securities Premium Reserve A/c (100 x  Rs. 4)

(Reissue of 100 of the forfeited shares @  Rs.14 per share)

400

Forfeited Shares A/c ...Dr.

To Capital Reserve A/c

(Gain on reissue of 100 shares transferred to Capital Reserve)

200

200