Forfeiture and Re-issued of share

Q. A company Ltd. Forfeited 400 shares of Rs 100 each for non-payment of final call money of Rs. 20 per share out of forfeited shares 300 shares were re-issued at Rs. 70 per share as fully paid.

Requires:  a. Forfeiture

                   b. Re-issue

                   c. Transfer entry

Q. A company Forfeited 400 shares of Rs 100 each for non-payment of final call money for Rs. 40 each. These shares were re-issued at Rs. 70 per share as fully paid up.

Requires:  a. Forfeiture

                   b. Re-issue

                   c. Transfer entry