105 :- XYZ Ltd. is registered with an authorised capital of Rs 2,00,000 divided into 2,000 shares of Rs 100 each of which, 1,000 shares were offered for public subscription at a premium of Rs 5 per share, payable as:
On Application Rs 10 per share
On Allotment Rs 25 per share (including premium)
On First Call Rs 40 per share
On Final Call Rs 30 per share
Applications were received for 1,800 shares, of which applications for 300 shares were rejected outright; the rest of the applications were allotted 1,000 shares on pro-rata basis. Excess application money was transferred to allotment.
All the money was duly received except from Sundar, holder of 100 shares, who failed to pay allotment and first call money. His shares were later forfeited and reissued to Shyam at Rs 60 per share Rs 70 paid-up. Final call has not been made.
Pass necessary Journal entries and prepare Cash Book in the books of XYZ Limited.
106 :- Janta Ltd. issued applications for 5,00,000 equity shares of Rs 10 each, at a premium of Rs 4 per share. The amount was payable as follows:
On application Rs 6 (including Rs 2 premium), on Allotment Rs 6 (including Rs 2 premium) and Balance on first and final call.
Applications for 7,50,000 shares were received. Allotment was made to all the applicants on pro rata basis. Mohan to whom 1,000 shares were allotted did not pay allotment and call money. Vikram to whom 500 shares were allotted, did not pay the call money. These shares were forfeited and afterwards reissued @ Rs 8 per share fully paid-up. Pass the necessary Journal entries.
107 :- Alok Ltd. invited applications for 1,00,000 Equity Shares of Rs 10 each. The shares were issued at a premium of Rs 5 per share. The amount was payable as follows:
On Application and Allotment Rs 8 per share (including premium Rs 3). Balance, including premium on the First and Final Call.
Applications for 1,50,000 shares were received. Applications for 10,000 shares were rejected, and pro rata allotment was made to the remaining applicants on the following basis:
(i) Applications for 80,000 shares were allotted 60,000 shares; and
(ii) Applications for 60,000 shares were allotted 40,000 shares.
Mohan, who belonged to the first category and was allotted 300 shares, failed to pay the first and final call money. Sohan, who belonged to the second category and was allotted 200 shares, also failed to pay the call money; their shares were forfeited. The forfeited shares were reissued @ 12 per share, fully paid-up. Prepare Cash Book and pass necessary Journal entries.
108 :- Ruchi Ltd. issued for public subscription 40,000 Equity Shares of Rs 10 each at a premium of Rs 2 per share payable as:
On Application – Rs 2 per share;
On Allotment – Rs 5 per share (including premium);
On First Call – Rs 2 per share,
On Second and Final Call – Rs 3 per share
Applications were received for 60,000 shares. Allotment was made on pro rata basis to the applicants for 48,000 shares, the remaining applications being refused. Money overpaid on application was utilised towards sums due on allotment. Ram to whom 1,600 shares were allotted failed to pay the allotment money and Shyam to whom 2,000 shares were allotted failed to pay the two calls. These shares were subsequently forfeited after the second and final call was made. All the forfeited shares were reissued as fully paid-up @ Rs 8 per share. Give necessary Journal entries for the above transactions.