Pass necessary journal entries for the forfeiture and reissue of shares in the following cases
- CC Ltd. forfeited 10,000 shares of ₹10 each, ₹8 called up, for non-payment of allotment money of ₹3 per share and first call of ₹3 per share. Out of these, 2000 shares were reissued for ₹7 per share, ₹8 paid up.
- GG Ltd. forfeited 2,000 shares of ₹10 each fully called up, issued at a premium of 10% on which only application money of ₹3 per share was received. Out of these, 500 shares were re-issued at ₹11 per share, fully paid up.
Marks-6, CBSE:2022-23/Compartment/Q-25*