Question

On 1st April, 2012, Bharat Itd made an issue of 3,00,000 equity shares of Rs. 10 each at a pre
of Rs 4 per share ,payable as follows Rs 6 on application (including Rs 1 premium)
Rs 2 on allotment (including Rs 1 premium)
Rs 3 on first call (including Rs 1 premium)
Rs 3 on second and final call (including Rs 1 premium)
Applications were received for 4, 50,000 shares of, which applications for 90,000 shares were
rejected and their was refunded. Rest of the applications were issued shares on pro-rata basis and
their excess money was adjusted towards allotment.
Ram, to whom 6,000 shares were allotted, failed to pay the allotment money and his shares were
forfeited after allotment. Shyam who applied for 10,800 shares failed to pay the two calls and on his
such failure, his shares were forfeited. 12,000 forfeited shares were re-issued as fully paid on receipt
of Rs.9 per share, the whole of Shyam's shares being included.
Prepare cash book and pass necessary journal entries.
MAITATEMENT​

Answer 1

Answer:

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