(Issue of Shares, Oversubscribed- Rejecting the Excess Applications).
Good Co. Ltd. invited applications for 1,00,000 shares of Rs. 10 each payable:
Rs. 3 on application , Rs. 3 on allotment and the balance when required .
1,20,000 shares were applied for. Applications were accepled for 1,00,000 shares and remaining applications were rejected . Allotment money was received on 99,500 shares.
Pass Journal entries in the books of Good Co. Ltd.

Citizen Watches Ltd. invited applications for 50,000 shares of Rs. 10 each payable Rs. 3 on application, Rs. 4 on allotment and balance on first and final call. Applications were received for 60,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected. All calls were made and received except First and Final call on 500 shares. Pass the Journal entries in the books of Citizen Watches Ltd.

Hema Ltd. invited applications for 10,000 shares of Rs. 100 each payable as follows: Rs. 20 on application, Rs. 30 on allotment, Rs. 20 on first call and the balance on final call. All the shares were applied and allotted. All the money was duly received. You are required to Journalise these transactions.

(Issue of Shares at Par, Oversubscription and Pro rata Allotment). Kirloskar Ltd. issued 20,000 shares of Rs. 10 each, payable Rs. 4 on application, Rs. 3 on allotment and Rs. 3 on first and final call. Applications were received for 25,000 shares. The company decided to allot 20,000 shares on pro rata basis and surplus of application money was utilised for allotment money due. Pass Journal entries assuming that the amounts due were received. Also, show share capital in the Balance Sheet of the company.

AB Ltd. invited applications for 1,00,000 Equity Shares of Rs. 10 each, payable as Rs. 2 on application, Rs. 3 on allotment and the balance on first and final call. Application were received for 3,00,000 shares and the shares were allotted on a pro rata basis. The excess application money was to be adjusted against allotment only. M, a shareholder, who had applied for 3,000 shares, failed to pay the call money and his shares were accordingly forfeited and reissued @ Rs. 8 per share as fully paid-up. Pass necessary Journal entries.

AB Ltd. invited applications for 1,00,000 Equity Shares of Rs. 10 each, payable as Rs. 2 on application, Rs. 3 on allotment and the balance on first and final call. Applications were received for 3,00,000 shares and the shares were allotted on a pro-rata basis. The excess application money was to be adjusted against allotment only. M, a shareholder, who had applied for 3,000 shares, failed to pay the call money and his shares were accordingly forfeited and reissued at Rs. 8 per share as fully paid.

(Issue of Shares at Par, Undersubscription). Sarvottam Ltd. invited applications for 40,000 Equity Shares of Rs. 10 each. The amount was payable as follows: on application Rs. 3 per share, on allotment Rs. 4 per share and on first and final call Rs. 3 per share. Applications were received for 37,500 shares and allotment was made to all. Ashok to whom 1,000 shares were allotted failed to pay the allotment money and also first and final call. Sohan who had applied for 500 shares failed to pay the first and final call. Pass necessary Journal entries to record the above transactions.