Y Ltd. invited applications for issuing 15,000 equity shares of Rs. 10 each on which Rs. 6 share were called up, which were payable as follows :
`{:("On application","Rs. 2 per share"),("On allotment","Rs. 1 per share"),("On first","Rs. 3 per share"):}`
The issue was fully subscribed and the amount was received as follows :
`{:("On 10,000 shares",-,"Rs. 6 per share"),("On 3,000 shares",-,"Rs. 3 per share"),("On 2,000 shares",-,"Rs. 2 per share"):}`
The directors forfeited those shares on which less than Rs. 6 per share were received. The forfeited shares were re-issued at Rs. 9 per share, as Rs. 6 per share paid up. Pass necessary journal entries for the above transactions in the books of the company.

Explanation

Amount received on allotment Rs. 13,000, Amount received on first call Rs. 30,000, Caspital Reserve Rs. 13,000.