XYZ Ltd.issued 8,000 Equity Shares of ₹ 10 each. ₹ 5 per share was called, payable ₹ 2 on application , ₹ 1 on allotment , ₹ 1 on first call and ₹ 1 on second call. All the money was duly received with the following exceptions: A who holds 250 shares paid nothing after application. B who holds 500 shares paid nothing after allotment. C who holds 1,250 shares paid nothing after first call.Prepare journal and the Balance Sheet .

XYZ Ltd.issued 8,000 Equity Shares of ₹ 10 each. ₹ 5 per share was

1.	XYZ Ltd.issued 8,000 Equity Shares of ₹ 10 each. ₹ 5 per share was called, payable ₹ 2 on application , ₹ 1 on allotment , ₹ 1 on first call and ₹ 1 on second call. All the money was duly received with the following exceptions: A who holds 250 shares paid nothing after application. B who holds 500 shares paid nothing after allotment. C who holds 1,250 shares paid nothing after first call.Prepare journal and the Balance Sheet .
Answer» XYZ Ltd.issued 8,000 Equity Shares of ₹ 10 each. ₹ 5 per share was called, payable ₹ 2 on application , ₹ 1 on allotment , ₹ 1 on first call and ₹ 1 on second call. All the money was duly received with the following exceptions: A who holds 250 shares paid nothing after application. B who holds 500 shares paid nothing after allotment. C who holds 1,250 shares paid nothing after first call. Prepare journal and the Balance Sheet .

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