Question

A company invited applications for 1,000, 6% preference shares of Rs.100 each, payable as follows: 20% on application, 30% on allotment, 50% on first and final call. All the shares were subscribed and fully paid. pass entries in the cash book and journal of the company.

Answer 1

Explanation:

a company invited application for 1000 , 6% preference share of Rs100 each payable as follows 20% on application 30%on allotment 50%on first and final call all the shares were subscribed and fully paid pass entreis in the cash book and journal of the company