W Ltd. issued 10,000 shares of Rs. 100 each. During the year only Rs. 80 were calle
Channel: Doubtnut
Date: 2020-04-26

W Ltd. issued 10,000 shares of Rs. 100 each. During the year only Rs. 80 were called payable as follows :  `{:("On Application","Rs. 25"),("On Allotment","Rs. 20"),("On Ist Casll","Rs. 20"),("On Iind Call",Rs. 15"):}`  Amount were received as follows :  On 8,000 shares the full amount called  On 1,200 shares Rs. 65 per share  On 500 shares Rs. 45 per share  On 300 shares Rs. 25 per share  The directors forfeited those shares on which less than Rs. 65 per share were received. Show entries in the Cash Book and Journal and show the Share Capital in the Balance Sheet.