Financial Accounting - Old Questions

17.The Hydropower company Ltd is issued 1,00,000 shares of Rs.100 each. The money called on application Rs.20, on allotment Rs.40 and Rs.30 on first call. The application is received for 90,000 only. The Board of director decided that all the share applications allotted in full. All the shareholders paid money in full except Shrijana holds 300 in first call.

Required: Journal entries in the book of company. [5]