Max Ltd. invited applications for 2,00,000 Equity Shares of Rs. 10 each to be issued at 20% premium. The money payable per shares was: on application Rs. 5, on allotment Rs. 4 (including premium of Rs. 2), first call Rs. 2 and final call Rs. 1, Applications were received for 2,40,000 shares and allotment was made as: (i) to applicants for 1,00,000 shares— in full, (ii) to applicants for 80,000 shares—60,000 shares, (iii) to applicants for 60,000 shares—40,000 shares. Applicants of 1,000 shares falling in Category (i) and applicants of 1,200 shares falling in Category (ii) failed to pay allotment money. These shares were forfeited on failure to pay first call. Holders of 1,200 shares falling in Category (iii) failed to pay the first and final call and these shares were forfeited after final call. 1,300 shares [1,000 of Category(i) and 300 of Category (ii)] were reissued at Rs. 8 per share as fully paid-up. Journalise the above transactions. Prepare Cash book and Balance Sheet.

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