Question

Anamika Ltd. company registered with a capital of Rs. 10,00,000 divided into shares of Rs. 10 each. 40,000 shares were issued to public payable as follows: On application Rs. 2, on allotment Rs. 4, on first call Rs. 2 and balance on final call. All money due on allotment duly received. When the first call was made one shareholder holding 600 shares paid the entire money. 50 shareholders holding 2000 shares failed to pay their dues on the first call. These shares were forfeited immediately. The final call was made later and all the money was duly received. Pass necessary journal entries.

Answer 1

JOURNAL ENTRIES IN THE BOOKS OF ANAMIKA LTD.

Explanation:

REFER TO THE ATTACHMENT FOR THE JOURNAL ENTRIES.