Question

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15. A Ltd. issued 20,000 equity shares of? 10 each at a premium of * 1 per share payable as
23 on application, * 5 on allotment (including premium) and 3 on final call. The issue was
oversubscribed to the extent of 15,000 shares, and the allotment was done as follows:
(a) Applicants of 5,000 shares were given full allotment
(b) Other applicants of shares were allotted shares on a pro-rata basis. The excess application
money received was to be adjusted against allotment only. All moneys due were received
with the exception of the call money on 400 shares. Pass necessary journal entries to
record the above transactions.​

Answer 1

Answer:

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