Smile Ltd was formed for the purpose of purchasing business for ₹ 2,00,000, divided into 2,000 Equity Shares of ₹ 100 each. 1,000 shares were issued as fully paid to the vendors in part payment of the purchase consideration

Smile Ltd was formed for the purpose of purchasing business for ₹ 2,00,000, divided into 2,000 Equity Shares of ₹ 100 each. 1,000 shares were issued as fully paid to the vendors in part payment of the purchase consideration. The remaining 1,000 shares were offered for public subscription at a premium of ₹ 5 per share payable as under:

	₹
On application	10 per share;
On allotment	25 per share (including premium);
On first call	40 per share;
On final call	30 per share;

Applications were received for 900 shares which were duly allotted and the allotment money was received in full. At the time of the first call, a shareholder who held 100 shares failed to pay the first call money and his shares were forfeited. These shares were reissued @ ₹ 60 per share, ₹ 70 per share paid-up. The final call has not been made. Pass the necessary Journal entries to record the above transactions and show how the share capital would appear in Balance Sheet of the company.