Arts, 20.09.2020 06:01 WindelCaceus123

Illustration 58. Welfare Limited issued 1,000 shares of 100 each. The due amount was received except for
100 shares on which 90 was received per share. These 100 shares were forfeited and 50 shares
were reissued for 80 each fully paid-up.
Show the Forfeited Shares Account and the Balance Sheet as at closing date.
Solution:
Welfare Limited
FORFEITED SHARES ACCOUNT
Cr.
Dr.

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Illustration 58. Welfare Limited issued 1,000 shares of 100 each. The due amount was received excep...

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