Q# 3 HASF Company ltd was registered with the Capital of Rs. 5000,000 divided into ordinary shares of 10 each the company offered to the public 15,000 shares payable in full on application the bank informs that 20,000 shares applications were received the company allotted the offered shares and refunded the amount received in excess

During the year the company completed the following transactions

Issued further 5,000 shares at 18 each

Purchased computers for 40,000 and issued 3,000 shares

Purchased land and issued 50,000 share at RS. 15 each

Required

1. Pass journal entries (04 marks )
2. Prepare balance sheet (03 marks )