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share capital a/c dr (700*80) 56,000
SPR a/c dr (700*5) 3500
to share forfeiture a/c 21,000
to share allotment a/c 24,500
to 1st call 14,000
bank a/c dr (500*92) 46,000
to share capital a/c (500*80) 40,000
to SPR a/c (500*12) 6,000
share forfeiture a/c dr 15,000
to capital reserver 15,000
(21,000 / 700 *500) - nil = 15,000
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