Question

1. X ltd has registered with a capital of Rs 5 lakh divided into 20000 shares of Rs 25
each. The company offered to the public for subscription 10000 shares. The
applications were received for 10500 shares. Amount payable was as follows:
Application: Rs 2.5
Allotment: Rs 7.5
First call: Rs 7.5
Final call: Rs 7.5
Mr A applied for 400 shares, paid 1000 on application but was allotted only 200
shares. Mr B applied for 800 shares paid the full amount of Rs 2000 of his share
money on application was allotted only 500 shares and the surplus money was
returned to him. C applied for 1000 shares, paid application and allotment money in
order, paid Rs 2000 on first call and did not pay for the final call at all. His shares
were forfeited for non payment.
Make journal entries to record above transactions. Show full working.

Answer 1

Answer:

SORRY

Explanation:

I don't know answer