Question

1. Paliwal Exports Ltd, with a share capital of Rs. 10,00,000 divided into 20,000 shares of Rs. 50 each offers the shares to the public as under: Rs. 15 on application ; Rs. 15 on allotment; Rs. 10. on 1st call; Rs. 10 on final call. Share holder A who holds 200 shares has paid only the application money Share holder B who holds 300 shares has paid only the application & allotment money Share holder C who holds 400 shares has paid only the application, allotment & first call money. The company forfeits the shares of the above holders who have not paid the arrears. Journalise the above transactions and prepare Balance sheet.

Answer 1

Answer:

Is it illustration35??