Question

0.50. Elite Ltd. invited applications from public for 5,00,000 equity shares of #10
Applications for 6,50,000 shares were received. Allotment of shares was made as
follows: (i) 100% shares to applicants of 4,00,000 shares; (ii) 50% shares to applicants
of 2,00,000 shares, (iii) No allotment to applicants of 50,000 shares.
A shareholder to whom 500 shares were allotted under category (1) paid full
amount due on shares along with allotment money. Another shareholder holding 1,000
shares failed to pay the amount due on call. His shares were forfeited and 800 of these
shares were subsequently re-issued as fully paid-up @ 8 per share.
Pass the journal entries.
each issued at 11 per share. The payment was to be made as follows : 3 on
Application; 4 on Allotment including premium, and 4 on call.​

Answer 1

Answer:

capital reserve =3200

Explanation:

hope soo it's right