Question

x ltd issued
10,000 shares of 10 each for purchase of plant to Y Ltd.
had issued 15,000 shares to public payable as 3. on application, 2
on allotment, 33 on first call and 2 on final call.
The amount received on these shares were as under:
On 5,000 shares full amount called
On 7,000 shares 38 per share IX
On 2,000 shares 35 per share Ian
On 1,000 shares 3 per share our st
The Directors forfeited 3,000 shares on which less than 8 per share
had been paid and reissued at 7 fully paid up.
Pass journal entries to record these transactions.​

Answer 1

Answer:

On 5,000 shares full amount called

On 7,000 shares 38 per share IX

On 2,000 shares 35 per share Ian

On 1,000 shares 3 per share our st