Question

m limited invited application for 1,000 shares of 120 payable
55 (including premium)
on application, & 40 on allotment and the
balance by way of call
Applications of 1200 shares were received. The
Board of director alloted in full to appli-
cants for 700 shares, and in the balance
of the shares pro-rate to the remaining
applicants
The Board also utilised the
exess money ,if any
towards the allotment
money,x to whom
66 shares were alloted on pro.
rate, failed to pay allotment
Call money
After complying with the
necessary procedure, his shares were
forfeited. These
were subsequently reissued at 110
each.
Show the necesary ledger accounts to record the above​

Answer 1

Answer:

After complying with the

necessary procedure, his shares were

forfeited. These follow for ans