Green Ltd. issued 8,000 Equity Shares of Rs. 10 each. Rs. 5 per share was called, payable Rs. 2 on application, Rs. 1 on allotment, Rs. 1 on first call and Rs. 1 on second call. All the money was duly received with the following exceptions:
A who holds 250 shares paid nothing after application.
B who holds 500 shares paid nothing after allotment.
C who holds 1,250 shares paid nothing after first call.
Prepare Journal and the Balance Sheet.

Golder Jute Ltd. made an issu of 10,000 shares of Rs. 10 each payable Rs. 3 on Application, Rs. 3 on Allotment, Rs. 2 on First Call and Rs. 2 on Second Call. All the amounts were received, except the following : X Who holds 100 shares paid Application, Allotment and First Call. Y Who holds 200 shares has paid Application and Allotment. Z Who holds 300 shares has paid only Application money. The Company forfeited the shares of defaulting shareholders and re-issued 200 of the above shares at a discount of 2%, credited as fully paid. Prepare Cash Book and Forfeited Shares A/c.

Software Ltd. Company with registered capital of Rs. 5,00,000 in shares of Rs. 10 each issued 20,000 of such shares payable Rs. 2 on application, Rs. 4 on allotment, Rs. 2 on first call and Rs. 2 on final call. All the money payable on allotment was duly received but on the first call being made, one shareholder paid the entire balance on his holding of 300 shares and five shareholders with a total holding of 1,000 shares failed to pay their dues on the first call. These shares were foreited for non-payment of first call money. Final call was made and all the money due was received. Later on, forfeited shares were reissued @ Rs. 6 per share as fully paid-up. Record the above in the company's Journal and prepare the Balance Sheet.

Paliwal Exports Ltd. with a share capital of Rs. 10,000 divided into 20,000 shares of Rs. 50 each offers the shares to the public as under : Rs. 15 per share payable on application, Rs. 15 per share payable on allotment, Rs. 10 per share payable on Ist call, and Rs. 10 per share payable on second call. Shareholder 'A' who holds 200 shares has paid only the application money. Shareholder 'B' who holds 300 shares has paid only the application and allotment money. Shareholder 'C' who holds 400 shares has paid application, allotment and first call money. The company forfeits the shares of the above shareholders who have not paid the arrears and re-issued 600 of these shares at a discount of 20%. Journalise the above transactions including entries relating to Bank in the books of Paliwal Exports 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.

(Forfeiture of Shares Allotted on Pro rata). A company issued 10,000 shares of Rs.10 each payable as Rs. 2 on application, Rs. 3 on allotment, Rs. 3 on first call and Rs. 2 on second and final call. Applications were received for 15,000 shares. The shares were allotted on a pro rata basis to the applicants of 12,000 shares. All shareholders paid the allotment money except one shareholder who was allotted 200 shares. These shares were forfeited. The first call was made thereafter. The forfeited shares were reissued @ Rs. 9 per share as Rs. 8 paid-up after first call. The second and final call was not yet made. You are required to prepare Cash Book and pass Journal entries.

(Comprehensive Illustration ). Paliwal Exports Ltd. with a share capital of Rs. 10,00,000 divided into 20,000 Equity Shares of Rs. 50 each offers Equity Shares to the public as follows: Rs. 10 payable on application, Rs. 10 payable on allotment, Rs. 15 payable on first call and Rs. 15 payable on second call. Shareholder 'A' who holds 300 Equity Shares has paid only application money. Shareholder 'B' who holds 200 Equity Shares has paid application money on 200 Equity Shares and allotment money on only 100 Equity Shares. He surrendered 100 Equity Shares and also has not paid any other calls. Shareholder 'C' who holds 180 Equity Shares has paid only application and allotment money. Shareholder 'D' who holds 50 Equity Shares has paid application, allotment and first call money. Shareholder 'E' who holds 30 Equity Shares has paid application, allotment and first call money in full and second call money on only 20 Equity Shares. The company forfeits the shares of the above shareholders who have not paid the arrears. Journalise above transactions in the books of the Company.

Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On application Rs. 1 per share, on allotment Rs. 2 per share, on first call Rs. 3 per share and on second and final call Rs. 4 per share. All sums payable on application, allotment and call were duly received with the following exceptions: (i) A, who held 200 shares, failed to pay the money on allotment and calls. (ii) B, to whom 150 shares were allotted , failed to pay the money on first call and final call. (iii) C, who held 50 shares, did not pay the amount of second and final call. The shares of A , B and C were forfeited and were subsequently reissued for cash as fully paid-up at a discount of 5%. Pass necessary Journal entries to record these transactions in the books of X Ltd.

Amrit Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 4 on allotment (including premium), Rs. 2 on first call and the remaining on second call. Applications were received for 75,000 shares and pro rata allotment was made to all the applicants. All moneys due were received except allotment and first call from Sonu who applied for 1,200 shares. All his shares were forfeited. The forfeited shares were reissued for Rs. 9,600. Final call was not made. Pass necessary Journal entries.

Sunrise Ltd., was registered with a capital of Rs. 4,00,000 in shares of Rs. 100 each. It issued 2,000 of such payable Rs. 25 per share on application, Rs. 25 on allotment, Rs. 20 on first call, and the balance as and when required. All moneys payable on application and allotments were duly received, but when the first call of Rs. 20 per share was made, one shareholder holding 100 shares failed to pay the amount due and another shareholder holding 200 shares paid them in full. Record these transactons in the journal of the Company.