52 :- Alpha Ltd. issued 20,000 Equity Shares of Rs 10 each at par payable. On application Rs 2 per share; on allotment Rs 3 per share; on first call Rs 3 per share; on second and final call Rs 2 per share.
Ganesh was alloted 100 shares. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases :
Case 1 : If Ganesh did not pay the allotment money and his shares were forfeited.
Case 2 : If Ganesh did not pay allotment money and on his subsequent failure to pay the first call, his shares were forfeited.
Case 3 : If Ganesh did not pay the first call and on his subsequent failure to pay the second and final call, his shares were forfeited.
Solution :-
