Question

22. Sun Ltd. invited applications for 2,00,000 Equity Shares of 100 each at a
of 10 per share. The amount was payable as follows:
On application * 40 per share (including premium), on allotment * 30 per
Applications for 3,00,000 shares were received. Applications for 40,000 shares were
rejected and pro rata allotment was made to the remaining applicants. Ramesh who was
allotted 2,000 shares, failed to pay the allotment and first and final call money. His shares
Prepare Revaluation Account, Partners' Ca
admission of C into the partnership.
the balance on first and final call.
share and
Were forfeited. The forfeited shares were reissued at * 90 per share as fully paid-up.
Pass necessary Journal entries in the books of company if Calls-in-Arrears Account
is maintained.
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Answer 1

Explanation:

Mark as brailliant.........