56 :- Ankit Ltd.issued 20,000 equity shares of Rs 10 each at a premium of Rs 2 per share, payable as :
On Application : Rs 3
On Allotment : Rs 5 (Including premium)
On First Call : Rs 2
On Second and Final Call : Rs 2
Vijay was alloted 500 shares. Pass the necessary Journal entries relating to the forfeiture of shares in following cases :
Case 1 : Vijay did not pay allotment money and his shares were immediately forfeited.
Case 2 : Vijay did not pay allotment and first call, his shares were foreited after first call.
Case 3 : Vijay failed to pay first call and his shares were forfeited immediately.
Case 4 : Vijay failed to pay both the calls and his shares were forfeited.
Solution :-
