(Forfeiture of Shares which were Issued at Par).
Airdrop Ltd. issued 1,00,000 Equity Shares of Rs. 10 each on the following terms:
Rs. 3 payable on application, Rs. 4 on allotment, the balance as and when required.
Applications were received for 1,40,000 Equity Shares. Allotment was made as under:
80,000 applications were given 80,000 Equity Shares,
50,000 applications were given 20,000 Equity Shares, and
10,000 applications were not allotted any share.
A shareholder who applied for 1,000 Equity Shares and was given 1,000 shares failed to pay the allotment money. His shares were forfeited.
Pass Journal entries to record the above transactions.

Sony Media Ltd. issued 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 1,00,000 shares and allotment was made as follows: (i) Applicants for 60,000 shares were allotted 30,000 shares, (ii) Applicants for 40,000 shares were allotted 20,000 shares. Anupam to whom 1,000 shares were allotted from category (i) , failed to pay the allotment money. Pass Journal entries up to allotment.

MCS Ltd. issued 40,000 shares of Rs. 10 each payable as Rs. 2 per share on application, Rs. 4 per share on allotment and the balance in two equal instalments. Applications were received for 80,000 shares and the allotment was made as follows: (a) Applicationsof 50,000 shares were allotted 30,000 shares. (b) Application of 30,000 shares were allotted 10,000 shares. Neeraj, to whom 600 shares were allotted from Category (a), failed to pay the allotment money. Pass necessary Journal entries up to allotment only.

(Oversubscription of Shares and Call-in-Arrears). Alfa Co. Ltd. issued 50,000 Equity Shares of Rs. 10 each at a premium of Rs. 2 per share payable as follows: Rs. 3 on application, Rs. 4 on allotment (including premium), Rs. 2 on first call and Rs. 3 on final call. Applications were received for 65,000 Equity Shares. Applications for 40,000 Equity Shares were accepted in full, 10,000 Equity shares were allotted to applicants of 20,000 Equity Shares and applications for 5,000 Equity Shares were rejected. The amounts due were duly received except the first call on 1,000 Equity Shares and final call on 1,500 Equity Shares. Pass entries in the Cash Book and Journal of the Company. Also, show Share Capital in the Balance Sheet.

Meena Ltd. issued 30,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 5 (including premium) on allotment and the balance on first and final call. Applications were received for 52,000 shares. The directors resolved to allot as follows : {:((A),"Applicants of 20,000 shares","10,000 shares"),((B),"Applicants of 30,000 shares","20,000 shares"),((C ),"Applicants of 2,000 shares","Nil"):} Balu who had applied for 4,000 shares in category A and Ganesh who was allotted 2,000 shares in category B failed to pay the allotment money. Calculate the amount received on allotment.

Bharat Ltd. invited applications for issuing 2,00,000 Equity Shares of Rs. 10 each. The amount was payable as: On application Rs. 3 per share, on allotment Rs. 5 per share and on first and final call Rs. 2 per share. Applications for 3,00,000 shares were received and pro rata allotment was made to all the applicants of the following basis: Applicants for 2,00,000 shares were allotted 1,50,000 shares on pro rata basis. Applicants for 1,00,000 shares were allotted 50,000 shares on pro rata basis. Bajaj, who was allotted 3,000 shares out of group applying for 2,00,000 shares failed to pay the allotment money. His shares were forfeited immediately after allotment. Sharma, who had applied for 2,000 shares out of the group applying for 1,00,000 shares failed to pay the first and final call. His shares were also forfeited. Out of the forfeited shares 3,500 shares were reissued as fully paid-up @ Rs. 8 per share. The reissued shares included all the forfeited shares of Bajaj. Give necessary Journal entries to record the above transactions.