L.F.Dr. R) Cr.) Dr 1,60,000 1,60,000 Dr. 1,60,000 1,00,000 40,000 20,000 Dr Particulars Bank A/C To Share Application A/C Application money received on 8,000 shares @ 20 each) Share Application A/C To Share Capital A/C To Share Allotment A/ Bank A/C (Application money adjusted) Share Allotment Alc To Share Capital A/C (Allotment due on 5,000 shares @ 30 each) Bank A/C To Share Allotment A/c (*1,50,000 - 340,000) To Calls in Advance A/c (200 shares x 50) (Allotment money received) Share First Call A/C To Share Capital A/C (First Call due on 5,000 shares @ 20 each) Bank A/C Calls in Arrears A/c (300 x 20) Calls in Advance A/c (200 x 20) To Share First Call A/C 1,50,000 1,50,000 Dr. 1,20,000 1,10,000 10,000 Dr. 1,00,000 1,00,000 Dr. Dr Dr. 90,000 6,000 4,000 1,00,000 90,000 4,000 94,000 1,50,000 1,50,000 934 Bank A/C Dr Calls in Advance A/C Dr. To Share First Call A/C First call money received except on 300 shares) Share Second & Final Call Alc Dr To Share Capital Alc (Second Call due on 5,000 shares @30 each) Bank A/C Dr. Calls in Arrears A/c (300 x 30) Dr Calls in Advance A/c (200 x 30) Dr To Share Second and Final Call A/C Dr Bank A/C Dr. Calls in Advance A/C To Share Second & Final Call A/C (Second & Final Call received except on 300 shares) 1,35,000 9,000 6,000 1,50,000 1,35,000 6,000 1,41,000 On October 1, 2016 A' Ltd. offered 1,00,000 shares of 10 each payable as follows: On Application 3 per share Allotment (November 1, 2016) *2 per share On First Call (December 1, 2016) 3 per share On Second and Final Call (One month after first call) 2 per share Applications were received for 1,25,000 shares on October 15, 2016. Applications for shares were allotted 1,00,000 shares and the remaining applications were rejected. Give journal entries assuming that all amounts have been received and the company maintains a combined account for application and allotment