Question

goods sold on credit to Mr Mohan rs.20000 plus CGST and SGST@6% each​

Answer 1

Answer:

12. The Bangalore bottling co ltd., issued a prospectus inviting applications for 100000 equity

shares of rs. 10 each, payable as Rs.2 on application, Rs. 3 on allotment and the balance at

the discretion of the directors. Applications for 120000 shares were received. The directors

allotted the shares as follows:

To applicants of 80000 shares – Full allotted

To applicants of 30000 shares - 20000 shares

To applicants of 10000 shares -Nil

Give journal entries, assuming that the entire sum due on allotment has been received and no

call has been made.