Question

Ankur Ltd. issued 75,000 shares of Rs. SO each . Public applied for 75,000 shares. Whole amount was payable on application .

Pass journal entries. Prepared by Alka Jain, PGT Commerce, ASMS SKV, Mahipaipur​

Answer 1

Bank a/c Dr 375000
To share application 375000
(Being 75000 share application money received @₹50each )
Share application. A/c dr 375000
To share capital. 375000
(Being share capital issued)