U.P. Sugar Work Ltd. was registered on 1st January 2019 with an authorised capital of rs.1500000 divided into 15000 shares of rs.100 each.The company issued on 1st April 2019,5000 shares of rs.100 each at a premium of rs.5 per share payable rs.25 per share on application, rs.30(including premium) on allotment and the balance in two equal instalments of rs.25 each on 1st July and 1st october respectively.All the allotment and call moneys were paid when due,except in case of one shareholder who failed to pay the final call on 100 shares held by him.His shares were forfeited on 1st November after giving him a due notice.show necessary entries in the books of the company to record these transition.
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bank a/c Dr 1,25,000
to share application a/c 1,25,000
share application a/c Dr
to share capital 1,25,000
sh allotment a/c Dr 150,000
to share capital a/c 125,000
to share premium a/c 25,000
bank a/c Dr
to share allotment a/c 1,50,000
share 1st call a/c Dr 1,25,000
to share capital a/c 1,25,000
bank a/c Dr
to share 1st call a/c 1,25,000
share 2nd call a/c Dr 1,25,000
to share capital a/c 1,25,000
bank a/c Dr 1,22,500
to share 2nd call a/c 1,22,500
share capital a/c Dr 10,000
to share forfeiture a/c 7,500
to share 2nd call a/c. 2,500
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