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.4 The ABC company authorized capital is 300000 shares of Rs.10 each. On march 2017, 50000 shares have been issued at the premium of Rs.2

.4 The ABC company authorized capital is 300000 shares of Rs.10 each. On march 2017, 50000 shares have been issued at the premium of Rs.2 on every share. The share money payable as follow: Rs. 5 (including the premium of Rs. 2) with Application, Rs. 3 on Allotment, Rs. 2 on First Call and Rs. 2 on Final Call. Pass Journal entries; prepare Bank Account and Balance Sheet for Star Ltd.

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