92 :- Pass necessary Journal entries for forfeiture and reissue of shares in the following cases:
(i) Neon Ltd. forfeited 2,000 shares of Rs 10 each issued at a premium of Rs 2 per share for non-payment of allotment money of Rs 5 per share (including premium). The first and final call of Rs 2 per share was not yet made. Out of these, 1,500 shares were reissued at Rs 7 per share, Rs 8 paid-up.
(ii) Mamta Ltd. forfeited 3,000 shares of Rs 10 each on which the first call of Rs 3 per share was not received. The second and final call of Rs 1 per share was not yet called. Out of these, 2,000 shares were reissued at Rs 9 per share, Rs 9 paid-up.
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