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What is Issue of Shares ? about?

Sangita Ltd. issued 100,000 equity shares at ₹10 each, receiving applications for 220,000 shares, with excess application money utilized for allotment and calls. After forfeiting 600 shares for non-payment, they were reissued at ₹9 each, generating a gain transferred to capital reserve. Jyoti Ltd. also forfeited shares for non-payment and reissued them, with detailed journal entries provided for both companies

Author

chahalsukhi251

Language

EN