Question

24. Bisneswar Mills Ltd. issued 1,00,000 Equity shares of 100 each at a premium of 19%. The payment was
to be made as 20 on appliation, + 40 on allotment lineluding prenium), 7 50 on 1st call and 720
final call. Applications were received for 1,10,000 shares. The directors rejected applications for JOS
shares on which the moncy received on application, was rourned shares were alloted among the remaining
applicants on 100% basis. The directors made both the calls and all money were duly received pass
journal and each book entries for the aboye transactions​

Answer 1

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