Please answer ques no 101

Please answer ques no 101 as :taadc ram—h who iwlds shares failed to final & h" forfen«x of re-issued at tnaxirmun di«RÜt by _ QI 00: A isn•e of Rs I O at a vyemiurn of Rs 2 Rs 2 5 allotrnent;Rs 2 on first call,'Rs 3 on secotxf call- wee for 70.000 shares _ Allotrnent was made to for SO 000 the rennining am•licatiorrs being refuses. A to whom I SOO failai to allotment & call n»ney. B to whom 2,000 shares were allotted fail 2 The shar— Of A & B 3,000 share reissue at Rs 8 fully paid-up, include all shu— Of A- QI 01: A isstr of Rs I O each payable as under. Rs 2 On application,Rs 2 on allotment,Rs6 on fust & final call Applications for 150,000 share receive. Applicants for 80,000-6, (POO shar cants for 70 shares S to w hom 600 s hares al lotted out o f group applying shares fail ed to allotment rnoney. H is share forfei t ed. A who for I ,400 Out o f the group for 70,000 shares failed y first & final call money. His sharewereforfei reissued at Rs 8 fully d up include all the shares of S. Pass entries. payable as QI 02: A company vited Rs 4 application, balance equally on allotment & t',oo calls. Company receive application for 30 ,OOO khares & allotment made to the 25,000 shares on pro-rata basis, remaining applicants refused. for Mr. A holder of 200 shares failed to pay •allotment & also failed to pay first call. His shate forfeited. Mr. B holder shares failed calls His the whole of A s share) at a discount of Rs 2 fully paid up. Pass envies+ Q103: A co. issue I each Rs I final call.

Dear Student,
 
Journal
Date Particulars L.F. Debit
Amount
(Rs)
Credit
Amount
(Rs)
  Bank A/c Dr.   3,00,000  
  To Equity share Application A/c       3,00,000
  ( Being application money received on 1,50,000 shares )        
           
  Equity share Application A/c Dr.   3,00,000  
                  To Equity share Capital A/c       2,00,000
                   To Share Allotment A/c       1,00,000
  ( Being Application money transferred  to share capital account)        
           
  Equity Share Allotment A/c  Dr.   2,00,000  
                   To Equity share Capital A/c       2,00,000
  ( Being money due on Allotment)        
           
  Bank A/c(2,00,000-1,00,000-800) Dr.   99,200  
                   To Equity share Allotment A/c       99,200
  ( Being Amount received in allotment)        
           
  Equity share capital A/c Dr.   2,400  
                     To Share Allotment A/c       800
                    To  share forfeited A/c       1,600
  ( Being forfeiture of 600 shares for nonpayment of allotment money)        
           
  Share First Call A/c Dr.   5,96,400  
                     To Equity share capital A/c       5,96,400
  ( Being first call money due on 99,400  shares)        
           
  Bank A/c (5,96,400-4,800) Dr.   5,91,600  
                      To Equity share first Call A/c       5,91,600
  ( Being First call money received on shares)        
           
  Share Capital A/c  Dr.   8,000  
                      To Equity share first Call A/c       4,800
                     To share Forfeited A/c       3,200
  ( Being forfeiture of 800 shares)        
           
  Bank A/c  Dr.   8,000  
  Share Forfeited A/c Dr.   2,000  
                     To Share Capital A/c       10,000
  ( Being Re-issue of 1,000 forfeited shares)        
           
  Share Forfeited A/c(1,600+1,600-2,000) Dr.   1,200  
                       To Capital Reserve A/c        
  ( Being Profit on Re-issue transferred to Capital Reserve)        
           
         
 

Workings:
1.Shares applied by S=600×80,00060,000=800 SharesMoney paid in advance on application=200×2=Rs 400Amount unpaid on allottment= Rs 800(600×2-400)2. Shares alotted  to A=1,400×40,00070,000=800 Shares
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