Question

Q. 28. A company issued for public subscription 60,000 equity shares of 10 each at
a premium of 34 per share, payable as under:-34 on Application; 5 on Allotment
(including premium), *2.50 on First Call and 72.50 on Final Call.
Applications were received for 75,000 equity shares. The shares were allotted pro-rata
to the applicants for 70,000 shares, the remaining applications being rejected. Money
overpaid on applications was utilised towards sums due on allotment.
A, to whom 1,200 shares were allotted failed to pay allotment and calls money and B,
to whom 1,800 shares were allotted failed to pay two calls. These shares were subsequently
forfeited after the final call was made. All the forfeited shares were sold to Rajesh as fully
paid up at 11 per share.
Prepare Cash Book and journal entries required to record the above transactions.​

Answer 1

Answer:

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Answer 2

Explanation:

above is given the table