2, Niharika Ltd. issued 10,000 equity shares of 10 each at a premium of 2 2 per share payable as follows : On application % 3 per share On allotment % 5 per share (including premium) On first and final call % 4 per share Applications were received for 12,000 equity shares and pro-rata allotment was made to all the applicants. The excess application money was adjusted with allotment. Deepali who was allotted 20 s her shares were forfeited. ks of Niharika Ltd. (Sept. ’21) Pass Journal Entries in the boo oe ~- tha hanke of Niharika Led. hares failed to pay at first and final call and3. Ajita Ltd. issued 2,00,000 equity shares of % 10 each at a premium of Z 2 per share payable as : = 30n application Z 5 on allotment (including % 2 premium) 4on first and final call Applications were received for 2,40,000 equity shares and pro-rata allotment was made to all the applicants. The excess application money was adjusted with allotment. Prerna who was allotted 400 shares failed to pay first and final call and her shares were forfeited. Pass Journal entries in the books of Ajita Ltd. (March ’22)4. Kamdhenu Ltd. made an issue of 40,000 equity shares of z 20 each payable as follows : Application :% 5 per share Allotment :% 10 per share First Call :% 3 per share Second and Final Call : % 2 per share The company received applications for 45,000 shares of which applications for 5,000 shares were rejected and money refunded. All the shareholders paid up to second call except Sachin, the allottee of 2,000 Shares, failed to pay final call. Pass Journal Entries for the above transaction in the books of Kamdhenu Ltd.6. Jimit Limited issued 10,000 equity shares of %10 each at a premium of %2-per share payable %3 on application, %5 (including premium) on allotment and the balance in two calls of equal amount. Applications were received for 11,000 equity shares and pro-rata allotment was made for all the applicants. The excess application money was adjusted towards allotment. F i Mrs Toral who were allotted 200 equity shares failed to pay F/ F/ C an i all. her shares were forfeited after the final call. ; Show Journal Entries in the books of Jimit Ltd. and also show its presentation inBalanceSheet = ted6. Arihant Co. Ltd. issued 60,000 Equity shares of % 100 each payable as under : On Application : % 20 On Allotment : 7 30 On First Call : 7 30 On Second Call : 2 20 The company received applications for 50,000 equity shares. Share allotment and calls were made as also received except Kamya holding 2,000 shares failed to pay both the calls. Her shares were forfeited after second call. Record the above transactions in books of Arihant Co. Ltd. Ans. (1) Application money received = 2 10,00,000. (2) Allotment money received = % 15,00,000. (3) Ist call money received = % 14,40,000. (4) 2nd call money received =% 9,60,000. (5) Calls-in-Arrears = % 1,00,000. (6) Share forfeiture amount = Z 1,00,000.& Seaver and Co. Ltd. made an issue of 40,01 each payable as follows : Application :%5per share Allotment : 10 per share First Call : % 3 per share Second and final Call : 2 per share The company received applications for 54,000 shares of which application for 9,000 shares were rejected and money refunded and money on remaining applications after allotment of 40,000 shares diverted to allotment. All the shareholders paid-up to second call except Aryan . i call. The expenses of issue the allottee of 500 shares failed to pay final pel to Z 12,000. : Teeny entries and show the Balance Sheet in the books of Pass journal Paavan and Co. Ltd. }00 equity shares of = 20 os mm anniieetion —~€970000- (2) Money