Question

A company issued 10,000 Equity Shares of ₹ 10 each at a premium of ₹ 3 per share payable ₹ 5 on application, ₹ 5 (including premium) on allotment and the balance on first call. All the shares offered were applied for and allotted. All the money due on allotment was received except on 200 shares. Call was made. All the amount due thereon was received except on 300 shares. Directors forfeited 200 shares on which both allotment and call money were not received.
Pass necessary journal entries to record the above.

Answer 1

HEYA MATE YOUR ANSWER IS

the money due on allotment was received except on 200 shares. Call was made. All the amount due thereon was received except on 300 shares. Directors forfeited 200 shares on which both allotment and call money were not received.

Pass necessary journal entries to record the above.

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Answer 2

$Payable as:\\On Application= 5\\\\On Allotment = 5\\On first and final call = 3\\total called up = 13$Issued capital 10,000 shares of rs.10 each

Applied capital 10,000 shares of rs.100 each