Question

U.P. Sugar Works Ltd. was registered on 1st January, 2014 with an authorised capital of ₹ 15,00,000 divided into 15,000 shares of ₹ 100 each. The company issued on 1st April, 2014, 5,000 shares of ₹ 100 each at a premium of ₹ 5 per share payable ₹ 25 per share on application, ₹ 30(including premium) on allotment and the balance in two equal installments of ₹ 25 each on 1st July ad 1st October respectively. All the allotments 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 transactions.

Answer 1

Hey dude your answer is

he had to pay 25 percentage rupess on 1stvjuly and 100 rupess on 1st October These entries for the above question

Answer 2

Authorized capital 15,000 shares of rs.100 each issued capital 5000 shares of rs.100 each payable as:

$On Application: rs 25\\On Allotment: Rs 30\\On First : Rs 25\\On Final call : 25\\Total (called up)(100+ 5) = 105$