Question

A limited Company was registered with an authorised capital of 20,00,000 ---
shares, of these 60,000 shares were issued as fully paid to the vendors for the purchase of
buildings. 80,000 shares were subscribed for by the public and during the first year ₹6 per
share were called up, payable ₹3 on application, ₹1 on allotment, ₹1 on first call,and ₹1
on second call. The amounts received in respect of these shares were as follows :-
On 60,000 shares the full amount called.
On 12,000 shares 5 per share.
On 5,000 shares 4 per share.
On 3,000 shares 3 per share.
The directors forfeited 8,000 shares on which less than 5 per share had been paid . show journal entries in the books of the company and also show the share capital,as it would appear in the balance sheet.​

Answer 1

Answer:

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