List of top Accountancy Questions on Share Forfeiture asked in CBSE CLASS XII

Manas Ltd. forfeited 600 shares of ₹10 each for the non-payment of first call of ₹2 per share. The final call of ₹3 per share was not yet called. In the journal entry for forfeiture of shares, ‘Share Forfeiture Account’ will be:

Rajesh Ltd. forfeited 300 equity shares of ₹100 each, ₹70 called up for the non-payment of first call of ₹20 per share. Out of these shares, 100 shares were reissued @ ₹100 per share, ₹70 paid up. How much balance will remain in the share forfeiture account after reissue of 100 shares?

Java Ltd. forfeited 600 equity shares of ₹100 each ₹80 called up for the non-payment of first call of ₹20 per share. These shares were reissued at ₹90 per share fully paid up. The amount transferred to ‘Capital Reserve’ will be:

JK Ltd. forfeited 6,000 equity shares of ₹10 each issued at a premium of ₹2 per share for the non-payment of first call of ₹2 per share. The second and final call of ₹2 per share had not yet been made. The forfeited shares were reissued at a discount of ₹3 per share fully paid up.
Pass necessary journal entries for the above transactions in the books of the company. Also prepare ‘Share Forfeiture Account’.