Secondary School0

(OD Janta Ltd. issued applications for 5,00,000 equity shares of * 10 each, at a premium of 4 per share. The amount was payable as follows: On application 6 (including *2 premium), on Allotment 6 (including 2 premium) and Balance on first The amo and final call. Applications for 7,50,000 shares were received. Allotment was made to all the applicants on pro rata basis. Mohan to whom 1,000 shares were allotted did not pay allotment and call money. Vikram to whom 500 shares were allotted, did not pay the call money. These shares were forfeited and afterwards reissued @ 8 per share fully paid-up. Pass the necessary Journal entries.

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Secondary School0

Max Ltd. invited applications for 2,00,000 Equity Shares of 10 each to be issued at 20% money payable per share was: on application 5, on allotment 4 (including premium of 72), 2 and final call * 1. Applications were received for 2,40,000 shares and allotment was made as: Sol 0 to applicants for 1,00,000 shares in full, Dat (ii) to applicants for 80,000 shares—60,000 shares, (iii) to applicants for 60,000 shares—40,000 shares. Applicants of 1,000 shares falling in Category (i) and applicants of 1,200 shares falling in Category (ms pay allotment money. These shares were forfeited on failure to pay first call. Holders of 1,200 shares in Category (iii) failed to pay the first and final call and these shares were forfeited after final call. 1,300 shares [1,000 of Category (i) and 300 of Category (ii)] were reissued at 8 per share as fully paid Journalise the above transactions. Prepare Cash Book and Balance Sheet.

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