Question

jeevan dhara ltd. invited applucation for issuing 120000eqity shareof ₹10 each at a premium of ₹2 per share the amount payable as follows:
on application,-₹2 per share
on allotment -₹5 per share (including premium)
on first nd final call -balance
application for 150000shares were received .shares were allotted to all the applications on pro rata basis. exess money received on application was adjusted towrds sums due on allotmnt .all calls were made.manu wgo had applied for 300 shares failed to pay the amount due on allotment and first and final call .madhur who was allotted 2400 shares failed to pay the first and final calls .shares of both manu and madhur were forfeited .the forfeited shares were reissued at ₹9 per fully paid up .
pass necessary journal entries for the above transactions in the books of jeevan dhara ltd.

Answer 1

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