Kiran Textiles Ltd. issued 50,000 Equity Shares of ₹ 10 each at a premium of ₹ 4 per share and 2,000, 6% Preference Shares of ₹ 100 each at par payable as follows:

Kiran Textiles Ltd. issued 50,000 Equity Shares of ₹ 10 each at a premium of ₹ 4 per share and 2,000, 6% Preference Shares of ₹ 100 each at par payable as follows:

	Equity Shares (₹)	Preference Shares (₹)
On Application	3.50	30
On Allotment	6.50	20
On First Call	2	25
On Final Call	2	25

All these shares were fully subscribed, called-up and paid. Record these transactions in journal and cash book. [Ans. Cash at Bank ₹ 9,00,000.]