Shiva Ltd issued 20,000 shares of Rs 10 each at a premium of 10%. Payments were to be made as - on
Application Rs 5 (including premium); on Allotment Rs 4 and on First and Final Call Rs 2. Applications
were received for 18,000 shares and all were accepted. All money was duly received. Pass necessary
entries in the Books of the Company and also show the Balance Sheet of the Company.