Question

Pastelessaly Journal entries to record the above transactions.
89. Bharat Ltd. invited applications for issuing 2,00,000 Equity Shares of 10 each. The amount was payable
On application * 3 per share, on allotment * 5 per share and on first and final call *2 per share
Applications for 3,00,000 shares were received and pro rata allotment was made to all the applicants on
the following basis:
Applicants for 2,00,000 shares were allotted 1,50,000 shares on pro rata basis.
Applicants for 1,00,000 shares were allotted 50,000 shares on pro rata basis.
Bajaj, who was allotted 3,000 shares out of group applying for 2,00,000 shares failed to pay the
allotment money. His shares were forfeited immediately after allotment. Sharma, who had applied for
2,000 shares out of the group applying for 1,00,000 shares failed to pay the first and final call. His shares were
also forfeited.
Out of the forfeited shares 3,500 shares were reissued as fully paid-up @ 8 per share. The reissued share
included all the forfeited shares of Bajaj.
Give necessary Journal entries to record the above transactions.
es 2
bakvaas app salaa​

Answer 1

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