Question

Gold
&
Silver
Ltd.
issued
for
subscription
2,00,000
Equity
Shares
of
*
10
each
to
the
public
on
the
Joint Stock
following terms:
nts
0
3 to be paid on application;
* 2 to be paid on allotment;
*2 to be paid two months after allotment; and
* 3 to be paid three months after the first call.
Public applied for 1,80,000 Equity Shares which were allotted, the allotment taking place on 1st May,
2019. All moneys due on allotment were received by the due date. The first call was duly made but
a shareholder holding 3,000 shares failed to pay the calls money.
Pass the entries in the Cash Book and Journal of the Company and also prepare Balance Sheet.​

Answer 1

Answer:

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Answer 2

Answer ........................