33. Sadhana Co. Ltd., issued 50,000 equity shares of 100 each @a
premium of 10 per share.
The amount was payable as follows
20 on application
50 on allotment (including premium)
40 on first and final call
All the shares were subscribed and the money duly received except the
first and final on 500 shares. The Directors forfeited these share and re-issued at 80 each fully paid-up. Pass the necessary Journal entries.
