QUES 2: RAM Ltd. invited applications for the issue of 2,00,000 equity shares of RS 20 each payable Rs & on applications, Rs 10 (including Rs 4 as Securities Premium) on allotment and balance on first and final call. The prospectus provided that in case of partial allotment, money received in excess on application would be adjusted towards the amounts due on allotment and call. The company received applications for 5,00,000 shares out of which applications for 1,00,000 shares were rejected outrightly and other applicants were allotted shares on pro-rata basis. The company received all moneys due on allotment and call except from one shareholder (who applied for 4,000 shares) who failed to pay the allotment and the call moneys. The company forfeited his shares. Out of the forfeited shares, the company re-issued 1200 shares at the rate of Rs 16 per share, fully paid up. You are required to record the above transactions and show the relevant items in the balance sheet of the company.