50 :- Vikram Ltd. Forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of Rs 5 per share and first and final call of Rs 2 per share. Only application money of Rs 3 was paid by him. Out of these , 3,000 shares were reissued @ 12 per share as fully paid.
Pass entries for forfeiture and reissue of shares.
Solution :-
