Record the journal entries for forfeiture and reissue of shares in the following cases:
(a) X Ltd. forfeited 20 shares of Rs 10 each, Rs 7 called up on which the shareholder had paid application and allotment money of Rs 5 per share. Out of these, 15 shares were re-issued to Naresh as Rs 7 per share paid up for Rs 8 per share.
(b) Y Ltd. forfeited 90 shares of Rs 10 each, Rs 8 called up issued at a premium of Rs 2 per share to R for non-payment of allotment money of Rs 5 per share (including premium). Out of these, 80 shares were re-issued to Sanjay as Rs 8 called up for Rs 10 per share.
(c) Z Ltd. forfeited 300 shares of Rs 10 each issued at a discount of Rs 1 per share for non-payment of first and final call of Rs 3 per share. Out of these 200 shares were reissued at Rs 3 per share fully paid up.

Jain Ltd. purchased Building for Rs 10,00,000 from Gupta Ltd. 10% of the payable amount was paid by a cheque drawn in favour of Gupta Ltd. The balance was paid by issue of Equity Shares of Rs 10 each at a discount of 10%.
Pass necessary Journal Entries in the books of Jain Ltd. 

Y Ltd. purchased furniture costing Rs. 1,35,000 from A. B. Ltd. The payment was made by issue of Equity Shares of Rs. 10 each at a discount of Rs. 1 per share. Pass necessary Journal entries in the books of Y Ltd. 

Shyam Ltd. invited applications for issuing 80,000 Equity Shares of Rs 10 each at a premium of Rs 40 per share. The amount was payable as follows: 
On Application Rs 35 per share (including Rs 30 Premium)
On Allotment Rs 8 per share (including Rs 4 Premium)
On First and Final Call - Balance
Applications for 77,000 shares were received. Shares were allotted to all the applicants. Sundaram to whom 7,000 shares were allotted failed to pay the allotment money. His shares were forfeited immediately after allotment. Afterwards, the first and final call was made. Satyam the holder of 500 shares failed to pay the first and final call. His shares were also forfeited. Out of the forfeited shares 1,000 shares were re-issued at Rs 50 per share fully paid up. The re-issued shares included all the shares of Satyam.

Pass necessary Journal Entries for the above transactions in the books of Shyam Ltd.

Moneyplus Company issued for public subscription 75,000 shares of the value of Rs 10 each at a discount of 10% payable as follows:
Rs 2 per share on application, Rs 3 per share on allotment and Rs 4 per share on call.
The company received applications for 1,50,000 shares. The allotment was done as under:
(a) Applicants of 15,000 shares were allotted 5,000 shares.
(b) Applicants of 70,000 shares were allotted 40,000 shares.
(c) Remaining applicants were allotted 30,000 shares.
Money in excess to allotment was returned. Hari, a shareholder who had applied for 3,500 shares out of group B failed to pay allotment and call money. Rohan, a shareholder who was allotted 3,000 shares paid the call money along with the allotment. Rohan also belonged to group B.
Pass necessary journal entries to record the above transactions in the books of the company. Show your working notes clearly.