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Forfeited shares A/c company accounts correct; share issue forfeiture pro-rata per Companies Act.
Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.
₹ 24,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.
Ref: NCERT Accountancy Class XII Chapter 6 Share Capital explains issue forfeiture reissue pro-rata allotment calls arrears accounting treatment Schedule III.
Vendor A/c Dr To Share Capital company accounts correct; share issue forfeiture pro-rata per Companies Act.
Ref: NCERT Accountancy Class XII Chapter 6 Share Capital explains issue forfeiture reissue pro-rata allotment calls arrears accounting treatment Schedule III.
By transfer to Capital Account debit partnership correct; deed provisions interest capital drawings as per Act.
Ref: NCERT Accountancy Class XII Chapter 2 Partnership Accounts explains partnership deed interest capital drawings profit appropriation guarantee provisions.
Interest on drawings credited to P&L Appropriation; income for firm, reduces partner capital.
Ref: NCERT Accountancy Class XII Chapter 2 Partnership Accounts explains partnership deed interest capital drawings profit appropriation guarantee provisions.
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