Question - 19 

ABC company Ltd. issued 20,000 equity shares of Rs. 100 each payment on these shares is to be made in the following manner: On application Rs. 30 (1st March 2012), on allotment Rs. 40 (1st June 2012) and on first and final call Rs. 30 (1st Sept.2012).

X to whom 200 shares allotted failed to pay the first and final call money on the due date however he paid unpaid calls money on 1st Nov., 2012 with interest @ 10% p.a.  pass necessary journal entries and calculate interest on call-in-arrears.

NOTE : Please purchase the book for looking question.