Question

ABB Limited invited application for 100000 share of ₹10 each at a premium of ₹1 each, payable as under; ₹ 5 on application;₹3.50(including primium)on allotment and ₹2.50 on call. Applications on 150000 shares were received of which the applications for 25000 shares were refused and the money refunded. Allotment was made pro- rata to the remaining applicants excess application money being applied towards the amount due on Allotment.B was alloted 200 shares, but he is failed to pay the amount due on allotment and Call.His shares were forfeited and Reissued to C at ₹ 10.50per share.Pass necessary journal entries in the books of company for the above transactions.​

Answer 1

Explanation:

B ko 200 share allot hua par wo 250 share ke liye apply kiya tha, or wo allotment nhi diya to jo surplus aaya tha application money se wo allotment pe adjust hoga or baki calls in arrear ho jayega