On 1 st April 2015, A Ltd. issued 50,000 shares of 100 each payable as follows: 20
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On 1st April 2015, A Ltd. issued 50,000 shares of ₹100 each payable as follows: ₹20 on application.
By 20th May, 40,000 shares were applied for and all applications were accepted. Allotment was made on 1st June. All sums due on allotment were received on 15th July. Those on 1st call were received on 20th October. When accounts were closed on 31st March 2016, the 2nd and final call on 400 shares had not been received. Journalise the transactions.
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Lets journalize the transactions step by step based on the information provided 1 Issuance of Shares ...View the full answer
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