Question

On 1st April,2018 young india Ltd. was set-up with an authorized capital of 20,00,000 divided into
2,00,000 equity shares of 10 each. The company issued prospectus inviting applications for
1,80,000 equity shares. The company received application for 1,70,000 equity shares. During the
first year,8 per share were called Arun holding 2,000 and Varun holding 4,000 shares did not pay
the first called of 2 per share. Their shares were forfeited after the first call and later 3,000 of the
forfeited shares were reissued at 6 per share, 8 called – up.
Show Notes to accounts as per schedule III of the Companies Act, 2013.​

Answer 1

$\huge{\colorbox{pink}{ Answer }}$

$= \frac{Rs.12,000}{2,000} \times 500 = Rs. 3,000$

please see the attachment