Digamber Ltd invited applications for 20,000 shares of Rs 10 each, issued at a premium of 25%, payable as follows Rs 4 on application, Rs 5 on allotment (including premium of Rs1.5) and the balance on first and final call (including the remaining premium). All the shares were applied for and allotted. Amount due was duly received. Journalise, When it is the company's policy to maintain cash book.

Sehgal Ltd issued 50,000 equity shares of Rs10 each at face value. the amount was payable at the time of making application for the shares. Pass necessary journal entries and prepare the company's balance sheet when

(i) Applications are received for 4,75,000 shares

(ii) Applications are received for 55,000 shares.

Bhalla Ltd issued 15,500 equity shares of Rs.10 each, payable of Rs 3 on application, Rs 2 on allotment and Rs 5 on first and final call. The public applied for 11,500 shares. The shares were duly allotted. Pass necessary journal entries when cash book is maintained and only one account is opened for application and allotment.

Dinesh Ltd issued for public subscription 30,000 equity shares of Rs15 each at par, payable as follows
Rs 7 on application
Rs 5 on allotment
Rs 3 on first and final call
The company received applications for 40,500 shares. Journalise in each of the case mentioned below
(i) When excess applications are rejected.
(ii) When proportionate allotment is made.
(iii) When allotment is made hereunder.
 (a) Applications for 500 shares are rejected.
(b) Applications of 2,000 shares are allotted in full.
 (c) For the balance, pro-rata allotment is made.

DN Ltd issued 50,000 shares of Rs 10 each payable as Rs 2 per share on application, Rs 3 per share on allotment and Rs 2 each on first and final call. Applications were received for 70,000 shares. it was decided to
(i) Refuse allotment to the applicant of 10,000 shares.
(ii) Allot 20,000 shares to Mohan who had applied for similar number.
(iii) Allot the remaining shares on pro-rata basis.
Mohan failed to pay the allotment money and Sohan who belonged to the category (iii) and was allotted 3,000 shares paid both the calls with allotment. Find out the amount received on allotment .

Radha Ltd invited applications for 2,000 equity shares of Rs 100 each, payable as follows

Rs 25 on application, Rs 40 on allotment, Rs 35 on first and final call.

Applications were received for 2,500 shares. It was decided to allot the shares as under 

W, who applied for 500 shares was allotted 300 shares.

X, who applied for 1,200 shares, were allotted 1,000 shares.

Y, who applied for 800 shares, was allotted 700 shares.

All money was received except from X who did not pay anything after application, Juournalise.

The directors of a company forfeited 600 shares of Rs 10 each issued at a premium of Rs 3 per share, for the non-payment of the first call money of Rs 3 per share. The final call of Rs 2 per share has not been made. Half the forfeited shares were re-issued at Rs 3,000 fully paid. Record the journal entries for the forfeited shares and re-issue of shares.

PS Ltd forfeited 500 shares of Rs 100 each for the non-payment of first call of Rs 30 per share. The final call of Rs 10 per share was not yet made. The forfeited shares were re-issued for Rs 65,000 fully paid-up. Pass necessary journal entries for the books of the company.

Samta Ltd forfeited 800 equity shares of Rs 100 each for the non-payment of first call of Rs 30 per share. The final call of Rs 20 per share was not yet made. Out of the forfeited shares, 400 were re-issued at the rate of Rs 105 per share fully paid-up. Pass necessary journal entries in the books of Samta Ltd for the above transactions.

DP Shah Company Ltd made an issue of 1,00,000 equity shares of Rs 10 each at a premium of 30% payable as follows

On application Rs 3.50 per share, on allotment Rs 6.50 per share, balance on first and final call.

Applications were received for 2,00,000 equity shares and the directors made pro-rata allotment. Harsh, who had applied for 1,600 shares did not pay the allotment and final call money, as a result his shares were forfeited. Later on, 60% of the forfeited shares were re-issued at Rs 8 per share fully paid-up.

Pass necessary journal entries for the mentioned transactions in the books of the company.