(ii) RK. Co. Ltd issued 10,000 shares of Rs. 25 each at a premium of Rs. 5 per share payable as follows:
On application
Rs. 10 (including premium Rs. 3)
On allotment
Rs. 10 (including premium Rs. 2)
On Ist call
Rs. 5
On final call
Rs. 5
Applications were received for 12,000 shares, excess application money will be adjusted with allotment money due. All money were received upto final call, except one shareholder holding 1000 shares failed to pay the final call money.
Pass Journal entries including cash transactions in the books R.K. Co. Ltd.
