Authorised capital of kohinoor Ltd. is Rs 10,00,000 which is divided into 10,000 Equity shares of Rs 100 each. Out of these shares 8000 equity shares were issued to the public. The whole nominal value is payable on application. All the shares were subscribed by the public and full amount was paid for. Give necessary journal entries in the books of kohinoor Ltd.
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Answer:
Bank a/c. Dr. 8,00,000
to share application a/c. 8,00,000
Share application a/c. Dr. 8,00,000
to share capital a/c. 8,00,000
Explanation:
amt= 8000shares×Rs100
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