04. Bharatiya Textile Co. Lid. issued is prospectus or 1" January 2016 inviting applications for 10.000 hares of Rs. 10 each at a premium of Rs. 2 per share payable es under:
(s. 2 On application; Rs. 6 On allotment (including premium); Rs. 2 On first call; Rs. 2 On final cail
pplications for 15,000 shares were received. Applications for 2,500 shares were not allotted any share and
heir application money was reſunded. The remaining applicants were allotted 10,000 shares pro-rata and
honey over-paid on application was used towards payment on allotment. All calls having been made, money
as realised from all shareholders except one who was allotted 100 shares and who failed to pay two calls. His
shares were, therefore forfeited by the directors and were later re-issued as fully paid at a price of Rs. 8 per
share. Glve journal entries in the books of the company.