Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On Application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.
Ganesh was allotted 100 shares. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases:

  • If Ganesh failed to pay the allotment money and his shares were immediately forfeited.
  • If Ganesh failed to pay allotment money and on his subsequent failure to pay the first call, his shares were forfeited.
  • If Ganesh failed to pay the first call and on his subsequent failure to pay the second and final call, his shares were forfeited.

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