Скачать или смотреть solution 108| Shares | T S Grewal Edition 2025

solution 108 | Shares | T S Grewal Edition 2025 ‎@sethsaccountancytricks 

Ruchi ltd. Issued for public subscription 40000 equity shares of ₹10 each at a premium of ₹2 per share payable as:
On application -₹2 per share,
On allotment - ₹5 per share (including premium)
On first call - ₹2 per share
On second and final call ₹3 per share
Applications were received for 60000 shares. Allotment was made on pro rata basis to the applicants for 48000 shares, the remaining applications being refused. Money overpaid on application was utilised towards sums due on allotment. Ram to whom 1600 shares were allotted failed to pay the allotment money and shyam to whom 2000 shares were allotted failed to pay the two calls. These shares were subsequently forfeited after the second and final call was made. All the forfeited shares were reissued as fully paid-up @ ₹8 per share.
Give necessary journal entries for the above transactions.


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