Question

Applications
Example 29. X Ltd. issued for public subscription 40,000 equity shares of 10 each
15 per share (with premium) on call 33 per share.
splications for 48,000 shares. The remaining applications being rejected. Money over pai
4
were received for 60,000 shares. Allotment was made pro-rata to th
was applied towards sums due on allotment. Shri Chitnis to whom 1,60
mares were allotted. Failed to pay the allotment money and Shri Jagdale to whom 2,00
rates were allotted failed to pay the call money these shares were subsequently forfeite
Pass the necessary journal entries.
an application​

Answer 1

Answer:

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