The journal entries summarize the reissue of 500 shares at Rs. 10 each, debiting the bank account Rs. 5,000 and crediting the share capital account Rs. 5,000. It also summarizes the transfer of Rs. 2,000 from the equity share forfeiture account to the capital reserve account.

5. Journal Entries
Neeti Gupta

10. Share Reissue
Date Particulars L.F Dr Cr
Bank A/C Dr (500 X 10)
To Share Capital (500 X 10)
(Being 500 shares reissued @10)
5,000
5,000
Equity Share forfeiture A/C Dr
To Capital Reserve A/c
(Being forfeited amount transferred to
capital reserve)
2,000
2,000

11. Bank Account
Neeti Gupta