R Ltd. invited applications for issuing 1,00,000 equity shares of ₹ 10 each at a premium of ₹2 per share. The amounts were payable as follows: On application & allotment - ₹6 per share (including premium) Balance on the First & Final Call Applications were received for 2,50,000 shares. Applications for 1,00,000 equity shares were rejected and pro-rata allotment was made to the remaining applicants. The first & final call was made. The amount was duly received except on 3,000 shares applied by Ms. Jane. Her shares were forfeited. The forfeited shares were reissued as fully paid-up @ ₹8 per share. Pass necessary Journal entries to record the above transactions in the books of R Ltd.

Define Measurement and Valuation Principles in brief.