Ashraf Bros. was registered with an authorised capital of Rs. 15000000 divided into 1500000 shares. On April 1,Tayyab Bros. Ltd. Issued 850000 ordinary shares @10 each to general public. On April 25( the subscription date) applications were received for 620000 shares. Consequently 230000 shares were taken up by the underwriters as per agreement. On 30th April, the company allotted the shares.(6) Pass the journal entries in the books of the company and draft a balance sheet.