.Akash Company Limited issued 40,000 equity shares of 10 each at a premium of 2 per share
to the public payable as follows:
23 on Application
4 on Allotment (including premium)
5 on First and Final call.
17
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amboup 3яHT 192A IIV
Abris vyne? S
wollol ar asw ESOS-E-16
All these shares were subscribed and all the money duly received except the first and final call on 800
shares. The shares were forfeited and re-issued at 7 per share fully paid up. Pass the necessary
journal entries related to the above information.
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