Question

Sumit Machine Ltd. issued 50,000 equity shares of Rs. 100 each at
discount of 5%. The shares were payable Rs. 25 on application, Rs. 40 on allotment
and rs 30 on first and final call. The issue were fully subscribed and money were duly received except the final call on 400 shares. The discount was adjusted on allotment Give journal entries and prepare Balance Sheet.​

Answer 1

Answer:

sorry it is tough................