Question

5 Vaishali Ltd. Issued 10000 equity shares of 10 each at par payable 33 on Application, 4 on
Allotment and 3 on First and Final call. The company received applications for 15000 shares.
The Board of Directors rejected 5000 applications and application money was refunded. All the
money was duly received.
Show Journal Entries in the Books of Vaishali Ltd.​

Answer 1

hope it will help you

........................................