Question

Kavi Ltd. had allotted 50,000 equity shares of '10 each at a premium of 2 each to
applicants of 30,000 shares on a prorata basis. The amount payable was 3 on
application, '5 on allotment (induding premium of 2 each) and 2 on first call and 2
on final call. Subin a shareholder failed to pay the first call and final call on his 500
shares. All the shares were forfeited and out of them 400 shares were reissued @ "Sper
share. Pass necessaryjournal entries.​

Answer 1

Answer:

sorry I didn't know how