Working Note:
Calculation of the amount due but not paid on allotment:
`{:("(a)","Total No. of shares applied"," 2,000"),("(b)","Total money paid on application (2,000"xx"Rs. 3)","Rs.6,000"),("(c)","Excess application money [Rs. 6,000 - (1,000"xx"Rs. 3)]","Rs.3,000"),("(d)","Total amount due on allotment (1,000"xx"Rs. 4.50)","Rs. 4,500*"),("(e)","Amount due but not paid (Rs. 4,500-Rs. 3,000)","Rs. 1,500"):}`
*Out of Rs. 4,500, Rs. 2,000 are for Share Capital and Rs. 2,500 are for Securities Premium Reserve. Out of excess application money of Rs. 3,000, Rs. 2,000 are adjusted towards allotment as Share Capital and Rs. 1,000 are adjusted towards allotment as Securities Premium Reserve. Therefore, Securities Premium Reserve of Rs. 1,500 (i.e.,Rs. 2,500 - Rs. 1,000) is not received. Hence, Securities Premium Reserve is debited by Rs. 1,500.