A Ltd. company with an authorised capital of 2,00,000 in shares of 100 each issued 1,000 of such shares payable
A Ltd. company with an authorised capital of ₹2,00,000 in shares of ₹100 each issued 1,000 of such shares payable ₹25 per share on application, ₹25 on allotment, ₹20 three months later, and the balance as and when required. All moneys payable on application and allotment were duly received. But when the call of ₹20 per share was made, one shareholder holding 50 shares failed to pay the amount due and another shareholder holding 100 shares paid them in full. You required to pass journal entries and prepare ledger accounts and also show how the capital account will appear in the company’s balance sheet.
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