Pawan Ltd. invited applications for 30,000 shares of Rs 10 each. Payments were to be made as follows - Rs 3 on Application , Rs 3 on Application, Rs 3 on Allotment, Rs 2 on First call and Rs 2 on Final call.
All the shares were applied. You are required to prepare Journal Entries, Ledger Accounts and show the Share Capital in the Balance Sheet of the company assuming that all sums due on Allotment and Calls have been received. Share Issue expenses amounted to Rs 8,000. 4,000 fully paid shares were also issued to Promoters for their services.

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.

Rama Co. issued 50,000 shares of Rs. 10 each payable as follows : {:("Rs. 3 on Application,",,"Rs. 3 on Allotment"),("Rs. 2 on First Call,",,"Rs. 2 on Final Call."):} All the shares were subscribed and allotted. Give Journal entries and show the Share Capital in the Balance Sheet assuming that all sums have been duly received. Expenses on issue of shares amounted to Rs. 10,000.

X Ltd. issued 20,000, 7% Preference shares of Rs. 100 each at a premium of 6%. Payments were to be made as - Rs. 25 on Application, Rs. 46 on Allotment, Rs. 10 on First call and Rs. 25 on Final Call. The applications for 18,000 shares were received and all were accepted. All the money was duly recived except the first and final call on 100 shares. Give the necessary Journal Entries and prepare Cash Book of the Company. Also show the Share Capital in the Balance Sheet of the Company.

X Ltd., invited applications for 20,000 shares of Rs. 10 each payable as under : Rs. 3 per share on application, Rs. 3 per share on Allotment, Rs. 2 per share on First Call, and Rs. 2 per share on Final Call. Final Call was not made by the company. An applicant who had been allotted 100 shares failed to pay Allotment and First Call money due from him. His shares were forfeited after the First Call and were immediately re-issued at Rs. 8.50 per share. Make necessary entries in the Journal of the company.

(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.

The Delhi Cloth Mills Ltd. invited applications for 10,000 Shares of Rs. 100 each at a premium of Rs. 10 each payable as below : Rs. 50 on Application, Rs. 35 on Allotment (including premium), and Rs. 25 on Call. Applications for 15,000 shares were received. Applicants for 2,500 shares did not get any allotment and their money returned. Allotment was made pro-rata to the remaining applicants. Mr. A was allotted 400 shares. He failed to pay the amount due on allotment and call money. The company forfeited his shares and subsequently re-issued at Rs. 105 per share. Show the journal entries in the books of the company.

Chandra Ltd. Issued 15,000 Preference shares of Rs 100 each at a premium of 5% Payments were to be made as - Rs 25 on Application, Rs 45 on Allotment and Rs 35 on First and Final Call. The applications for 14,000 shares were received and all were accepted. All the money was duly received except the first and final call on 200 shares. Give the necessary Journal Entries and prepare Cash Book of the Company.

The Mohan Ltd., has authorised capital of Rs. 5,00,000 divided into 50,000 shares of Rs. 10 each. The company issued a prospectus inviting applications for 30,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On Application Rs. 3, On Allotment Rs. 5 (including premium), On First Call Rs. 2 , On Second and Final Call Rs. 2. The Company received applications for 45,000 shares and pro-rata allotment was made in respect of applications of 40,000 shares and the remaining applications were rejected. Money overpaid on applications was employed on account of sums due on allotment. All the calls were made. B, to whom 300 shares were allotted failed to pay the two calls. The company decided to forfeit the shares allotted to B. These shares were subsequently re-issued to C as fully paid for Rs. 9 per share. Pass the necessary journal entries in the books of the company and prepare the Opening Balance Sheet.