solve sum

When the partial underwriting is done by one underwriter only X Ltd. issued 10,000 shares of Rs.100 each at a premium of Rs. 15each, 90% of the issue was underwritten by M/s Broker & Co. at a commission of 1% on the nominal face value. Applications were received for 8,000 shares and allotment was fully made. All the moneys due from allottees were received in one instalment. The accounts with Broker & Co. were settled. Show the journal entires to record the transactions [Ans: Net liability of Borker & Co. 1,800 shares: Cash received from the underwriters- Rs. 1,98,000]