Question

B.E. Ltd. offered for public subscription 10,000 equity shares of ₹20 each at a premium of 10%
payable as follows:
On application
5
On allotment
10
The balance in two equal instalments.
Applications were received for 10,000 shares and the shares were properly allotted. The calls were
made. One shareholder holding 500 shares paid the first and final call money alongwith with
allotment money
Pass entries in the books of company.​

Answer 1

JOURNAL ENTRIES IN THE BOOKS OF B.E.LTD.

Explanation:

REFER TO THE ATTACHMENT FOR THE JOURNAL ENTRIES.

As it wasn't stated in the question as to when the premium is to be included, I included it during allotment, make the necessary change if the premium is not with allotment money.