Arushi Computers Ltd Issued 10,000 Equity Shares Of Rs 100 Each At 10% Premium The Net Amount Payable As Follows- Accountancy

13. Arushi Computers Ltd. issued 10,000 equity shares of Rs. 100 each at 10% premium. The net amount payable as follows:

On Application	Rs.20
On Allotement	Rs.50 (Rs.40 + premium Rs.10)
On first call	Rs.30
On final call	Rs.10

A shareholder holding 200 shares did not pay final call. His shares were forfeited. Out of these 150 shares were reissued to Ms. Sonia at Rs. 75 per share.  Give journal entries in the books of the company.

Books of Arushi Computers Ltd.

Journal

Chapter-1 Accounting for Share Capital-II

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