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Radha Ltd issued for public subscription 40,000 equity shares of Rs. 10 each at a premium of Rs. 2 per share payable as under : On application Rs. 4 per share; on allotment Rs. 5 per share (including premium) and on call Rs. 3 per share. Applications were received for 60,000 shares. Allotment was made, pro-rata to the applications for 48,000 shares, the remaining being rejected. Money overpaid on applications was applied towards sum due on allotment. C, to whom 1,600 shares were alloted, failed to pay the allotment money and J, to whom 2,000 shares were alloted, failed to pay the call money. These shares were subsequently forfeited. Record journal entries in the books of the company. Or On 1st January, 2017, the director of Geeta Ltd issued for public subscription 50,000 equity shares of Rs. 10 each at Rs. 12 per share payable as to Rs. 5 on application (including premium), Rs. 4 on allotment and balance on call on 1st May, 2017. The lists were closed on 10th February, 2017. By that date, applications for 70,000 shares were received. Out of the cash received, Rs. 40,000 was returned and Rs. 60,000 was applied towards the amount due on allotment, the balance of which was paid on 16th February, 2017. All the shareholders paid the call due on 1st May, 2017 with the exception of an allottee of 500 shares. These shares were forfeited on 29th September, 2017 and reissued as fully paid at Rs. 8 per share on 1st November, 2017. The company, as a matter of policy, does not maintain a calls-in-arrears account. Give journal entries to record these share capital transactions in the books of Geeta Ltd.

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