Question

Garima Limited issued a prospectus inviting applications for 3,000 shares of
Rs. 100 each at a premium of Rs.20 payable as follows:
On Application
Rs.20 per share
On Allotment
Rs.50
per share (Including premium)
On First call
Rs.20 per share
On Second call
Rs.30 per share
Applications were received for 4,000 shares and allotments made on pro-
rata basis to the applicants of 3,600 shares, the remaining applications being
rejected, money received on application was adjusted on account of sums due
on allotment.
Renuka to whom 360 shares were allotted, failed to pay allotment money
and calls money. and her shares were forfeited.
Kanika, the applicant of 200 shares failed to pay the two calls, her shares
were also forfeited. All these shares were sold to Naman as fully paid for Rs.80
per share. Show the journal entries in the books of the company.
Solution:​

Answer 1

Answer:

total call charge is56.oo

Explanation:

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