Question

Bhadresh Co. Limited issues 4000 Equity shares of 100 each payable as 30 on application, 30 on allotment, * 40 on first and final call. All the shares were subscribed and duly allotted. Company made all the calls. All cash was duly received except the first and final call on 200 equity shares. These shares were forfeited by company and were re-issued as fully paid for 75 per share. Show the Journal Entries in the books of Bhadresh Co. Limited,​

Answer 1

Answer:

Refer Attached Photos

Applications 120000

Allotments 120000

First and Final Call 152000