Question

Chapter 8 - Company Accounts-Accounting for Share Capital 8.127
a karz Led is registered with an authorised capital of 2,00,000 divided into 2,000 shares of 7 100 each of
which, 1.000 shares were offered for public subscription at a premium of 75 per share, payable as:
On application
*10 per share,
On allotment
225 per share (including premium),
On first call
40 per share,
On final call
30 per share
Applications were received for 1,800 shares, of which applications for 300 shares were rejected outright;
the rest of the applications were allotted 1,000 shares on pro rata basis. Excess application money was
transferred to allotment,
All the money was duly received except from Sundar, holder of 100 shares, who failed to pay allotment and
forse call money. His shares were later forfeited and reissued to Shyam at 60 per share 70 paid-up. Final
call has not been made
Pass necessary Journal entries and prepare Cash Book in the books of XYZ Limited.
(OD 2016)​

Answer 1

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