Model: More than one calls Fortune Ltd. on 1 January 2010 was incorporated with an authorized capital of Rs10,00,000 divided into shares of Rs100 each. If offered to the public for subscription 9,000 shares payable as follows:
|
On Application |
25 per Share |
|
On Allotment |
25 per Share |
|
On First Call |
25 per Share |
|
On Second and Final Call |
25 per Share |
Shares were fully subscribed for by the public and all money on allotment, first call and final call were received duly. Pass necessary entries in the books of the company.