19. Attempto Questions out of three Questions.
(i) A Company invited applications for 50000 shares of Rs 10 each on the following terms:
On application
Rs3
On allotment
Rs2
On First and final Cail
Rs5
Applications were received for 110000 shares. It was decided (a) to refuse allotment to the applications
for 10000 shares (b) to allot 50 percent to Mr Black who applied for 20000 shares. (c) to allot in full to
Mr Brown who applied for 10000 shares (d) to allot balance of available shares equitable among the
other applicants and (e) to utilize excess application money in part payment of allotment and final call.
Give journal entries till stage of allotment assuming that the entire sum due on allotment is received in
full.
Answers
Answered by
3
Answer: The solution to the question is attached herewith. Kindly go through the same. Regards.
Explanation:
Attachments:
Similar questions