79 :- Kwality Hospitality Ltd. Incorporated with authorised capital of Rs 10,00,000, 1,00,000 equity shares of Rs 10 each, issued 50,000 equity shares for subscription payable Rs 4 on application, Rs 3 on allotment and balance as first and final call. The shares were subscribed, and due amounts were received except first and final call on 4,000 shares. These shares were forfeited. Later, half the shares were reissued as fully paid-up and Rs 4,000 were transferred to Capital Reserve.
Pass the Journal entry for reissue of shares.
Solution :-
