Question

4. A company issued 10,000 shares of 10 each at a premium of per share,
payment to be made as follows:
400
3 ₹
On Application
3
On Allotment
4 (including premium) X
On First call
2
X
On Second and final call 2
X
Applications were received for 20,000 shares. Applications for 5,000 shares were
rejected and allotment was made proportionately to the remaining applicants. The
directors made both the calls and all the money were received, except the allotment
,
first call and final call on 400 shares, which were subsequently forfeited. Later, 300 of
the forfeited shares were re-issued as fully paid @ 15 per share. Give journal entries
to record the above.​

Answer 1

JOURNAL ENTRIES IN THE BOOKS OF A LTD.

Explanation:

REFER TO THE ATTACHMENTS FOR JOURNAL ENTRIES.