Page 36 - Ebook Financial Accounting 3

Call 200,000

Ordinary Share Capital 200,000
(Being call 500,000 shares x 40 cent)

Call in advance (call) – Andak 2,000
Bank 194,000

Call in arrears (call) – Inol (10,000 x 40 cent) 4,000

Call 200,000
(Being money received on call) RM(200k-2k – 4k =

194k)

Ordinary Share Capital 12,000

Forfeited shares 12,000

(Being shares forfeited 10,000 shares x RM1.20)

Forfeited shares

Call in arrears 4,000
(Uncollectible amount of call in arrears) 4,000

Reissue Share

Ordinary Share Capital 12,000

(Reissue of forfeited shares 10,000 shares x RM1.20) 12,000

Bank 4,000

Reissued Share 4,000
(Receipt on reissue payment 10,000 shares x 40 cent)

Forfeited Shares 8,000
Reissued Shares 8,000

(Amount of paid up forfeited shares transferred to
reissued shares RM12,000- RM4,000)

30