s 2 per first and er and ategory late the 3 Marks onately) 50,000 20,000 30,000 60,000 70,000 18,000 88,000 Anil failed to pay and was allotted 3,500 shares paid both the calls with received on allotment. [Ans. Amount received on allotment 1,06,000.] Q. 20. X Ltd. issued shares for 20,00,000 divided into shares of 10 each at a premium of 5 per share, payable as under: On Application On Allotment On First and Final Call (C.B.S.E. 2010, Set III) 3 Mark Excess application money was to be adjusted against allotment and first and final call and the money on rejected applications.was to be returned. *4 per share *6 (including premium of 3) Balance The issue was oversubscribed to the extent of 80,000 shares and the allotment was made as follows: (1) Applicants of 1,00,000 shares were allotted 30% shares, applicants for 10,000 shares were rejected and the remaining applicants were given full allotment. under: Alf the money was duly received. Give journal entries. [Ans. Amount transferred to C