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1) Various shares were forfeited for non-payment of calls and some were reissued at a price higher than their original issue price. 2) Journal entries were made to record the forfeiture of shares, amounts due from shareholders, and reissue of forfeited shares. 3) A balance sheet was prepared showing the issued and paid up capital, amounts due from shareholders, and reserves from reissue of shares.

Author

gson52310

Language

EN