Hindustan Ltd. issued 50,000 equity shares of Rs 10 each at Rs 2 per share premium, to the public, which were payable as follows :
On application and allotment Rs 5 per share (including premium)
On first call Rs 3.5 per share
On second and final call Rs 3.5 per share
Applications were received for 85,000 shares, applications for 10,000 shares were refused and application money thereon were returned. Shares were allotted to remaining applicants on pro-rata basis. Allotment money was adjusted on the sums due on first call. First call was not received on 150 shares. Second and final call money was not received on 400 shares. Give journal entries in the books of Hindustan Ltd. and show the share capital in the balance sheet.