Give necessary journal entries for the forfeiture and re-issue of shares: (i) Windy Whale Ltd. forfeited 900 shares of 10 each fully called up, held…

Journal Entries in the books of Windy Whale Ltd. Date Particulars Dr. ₹ Cr. ₹ (a) Equity Share Capital A/c Dr. 9,000 To Equity Share Allotment money A/c (900x 3) 2,700 To Equity Share Final Call A/c (900x 4) 3,600 To Forfeited Shares A/c (900x 3) 2,700 (Being the forfeiture of900equity shares of 10each for non-payment of allotment money and final call, held by Varun as per Board’s resolution No………….dated…………..) (b) Bank A/c (900x 8) Dr. 7,200 Forfeited Shares A/c (900x 2) Dr. 1,800 To Equity Share Capital A/c 9,000 (Being the re-issue of900forfeited shares @8 each as fully paid up to Nitesh as per Board’s resolution No……….dated……………..) (c) Forfeited Shares A/c Dr. 900 To Capital Reserve A/c 900 (Being the profit on re-issue, transferred to capital reserve)