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Answer»

share capital a/c dr (700*80) 56,000SPR a/c dr (700*5) 3500to share forfeiture a/c 21,000to share allotment a/c 24,500to 1ST CALL 14,000bank a/c dr (500*92) 46,000to share capital a/c (500*80) 40,000to SPR a/c (500*12) 6,000share forfeiture a/c dr 15,000to capital reserver 15,000(21,000 / 700 *500) - nil = 15,000



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