A company's share capital consists of 100 000 ordinary shares issued at $4 and paid to $2 per share.On 1 February,a first call of $1 was made on the ordinary shares.By 28 February,call money was received on 90 000 shares.On 31 March,the shares on which calls were outstanding were forfeited.The company's constitution provided for any surplus on resale to be returned to the shareholders whose shares were forfeited.On 15 April,the forfeited shares were reissued as paid to $4.00 for a payment of $3.50 per share.The entry to record the reissue of the forfeited shares is:

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The Answer of A company's share capital consists of 100 000 ordinary shares issued at $4 and paid to $2 per share.On 1 February,a first call of $1 was made on the ordinary shares.By 28 February,call money was received on 90 000 shares.On 31 March,the shares on which calls were outstanding were forfeited.The company's constitution provided for any surplus on resale to be returned to the shareholders whose shares were forfeited.On 15 April,the forfeited shares were reissued as paid to $4.00 for a payment of $3.50 per share.The entry to record the reissue of the forfeited shares is:

A Company's Share Capital Consists of 100 000 Ordinary Shares