Alpha Ltd. issued 20,000 Equity Shares of Rs. 10 each at par payable:On application Rs. 2 per share, on allotment Rs. 3 per share, on first call Rs. 3 per share, on second and final call Rs. 2 per share.
Mr. Gupta was allotted 100 shares. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases:
Case I If Mr. Gupta failed to pay the allotment money and his shares were immediately forfeited.
Case II If Mr. Gupta failed to pay allotment money and on his subsequent failure to pay the first call, his shares were forfeited.
Case III If Mr. Gupta failed to pay the first call and and on his subsequent failure to pay the second and final call, his shares were forfeited.

Explanation

Case I Dr. Share Capital A/c-Rs. 500,
Cr. Forfeited Share A/c-Rs. 200 and Shares Allotment A/c-Rs. 300.
Case II Dr. Share Capital A/c-Rs. 800, Cr. Forfeited Shares A/c-Rs. 200, Shares Allotment A/c-Rs. 300 and Shares First Call A/c-Rs. 300.
Case III Dr. Share Capital A/c-Rs. 1,000, Cr. Forfeited Shares A/c-Rs. 500, Shares First Call A/c-Rs. 300 and Shares Second and Final Call A/c-Rs. 200.