Z Ltd. was registered with an authorised capital of Rs. 10,00,000 divided into 10,000 s
Channel: Doubtnut
Date: 2020-04-26

Z Ltd. was registered with an authorised capital of Rs. 10,00,000 divided into 10,000 shares of Rs. 100 each. The Company offered 5,000 of these shares to the public, which were payable Rs. 25 per share on application, Rs. 50 per share on allotment and the balance three months later. Applications for 7,100 shares were received on which the directors allotted as follows :  `{:("Applications for 4,000 Shares","Full"),("Applications for 3,000 Shares","1,000"),("Applications for 100 Shares","Nil"):}`  Rs. 1,85,000 was realised on account of allotment money (excluding the amount carried from application money) and Rs. 1,15,000 on account of call. The Directors decided to forfeit those shares on which allotment money was overdue.  Show the entries in the company's books.