17 :- Bharat Ltd. was incorporated with a capital of Rs 20,00,000 divided into shares of Rs 10 each. 20,000 shares were offered for subscription and out of these, 18,000 shares were applied and alloted. Rs 3 per share (including Rs 1 premium) was payable on application, Rs 4 per share (including Rs 1 premium) on allotment, Rs 2 per share on first call and Rs 3 per share on final call. All the money was received. Give necessary Journal Entries and show Share Capital in the Balance Sheet.
Solution :-
