A company issued 5,000 equity shares of 10 each at a discount of 1 per share payable
Question:
A company issued 5,000 equity shares of ₹10 each at a discount of ₹1 per share payable as follows:
₹2 on application
₹3 on allotment (excluding discount)
₹3 on 1st call and balance on 2nd call.
All the amounts were duly received. Pass the necessary journal entries in the books of the company.
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On Application Bank Ac Dr 10000 5000 shares 2 per share Share Application Ac Cr 10000 On Allo...View the full answer
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