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Q . United offered 1 0 0 0 0 equity shares of Rs . 1 0 0 each for subscription at a premium of Rs
Q United offered equity shares of Rs each for subscription at a premium of Rs per share payable as follows.
Application Rs
Allotment Rs including premium
First call Rs
Second call Rs
Final call balance
The company received applications for shares and shares were allotted on prorata basisHolders of shares failed to pay the first call and after due notice their shares were forfeited. The amounts payable on second call were paid in full except that a holder of shares failed to pay.
of the shares forfeited were reissued, credited Rs paid for Rs per share.
The final call was met in full including the arrears of the second call journalize the above transaction
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