Question

X Ltd. had an authorised capital of Rs 12,50,000 (equity share of Rs. 100 divided into 12,500 ). The company issued 10,000 equity shares payable at Rs. 20 on application, Rs. 30 on allotment, Rs. 30 on first call and the balance on second and final call. All the shares where subscribed by public. The directors made allotment money and the money was duly received, except the second and final call on 500 shares which is transferred to call-in-arrears account.
pass journal entries and show how share capital will appear in balance sheet. ​

Answer 1

this is correct answer