Question

8.
1st January Mohan drew three bills worth * 2,400 on his debtor
Suresh - First bill was for * 700 of one month second bill was
for 800 of two months and the third bill for 900 of four
months. Suresh accepted all the three bills. On 4th January
Mohan endorsed the first bill to his creditor Ramesh in full
settlement of his account for 710. The second bill was
discounted for *792. The third bill was retained by him till
the date of maturity. On the date of maturity the first bill was
paid but the second bill was dishonoured, noting charges
amounted to 10.
Mohan drew a fourth bill for 825 including 15 for interest
for three months. Suresh accepted. On the date of maturity
the third and fourth bills were honoured. Pass the necessary
entries in the books of Mohan, Suresh and Ramesh​

Answer 1

Answer:

12. The Bangalore bottling co ltd., issued a prospectus inviting applications for 100000 equity

shares of rs. 10 each, payable as Rs.2 on application, Rs. 3 on allotment and the balance at

the discretion of the directors. Applications for 120000 shares were received. The directors

allotted the shares as follows:

To applicants of 80000 shares – Full allotted

To applicants of 30000 shares - 20000 shares

To applicants of 10000 shares -Nil

Give journal entries, assuming that the entire sum due on allotment has been received and no

call has been made.