Question

0. 2.Balaji Ltd. issued 10,000, 13% Debentures of 100 each, payable as follows:
20 on application, 30 on allotment and 50 on first and final call
All the debentures were applied. Ajay, the holder of 300 debentures paid the entire
mount on his holding on allotment whereas Vijay, the holder of 200 debentures failed
pay the allotment and final call. Pass entries.
[Ans. Cash at Bank 9,84,000]
Hint : Cash received on Allotment 33,09,000 (ie., 53,00,000 + 215,000 - 76,000)
(i) Cash received on Ist Call 34,75,000 (i.e., 35,00,000 - 315,000 - 310,000)​

Answer 1

Answer: (i)

Explanation: