Question

italace
Vanshika Limited made an issue of 10,000 equity shares of 100 each
payable, 20 on application, * 40 on allotment, * 20 on first call and 20 on second
and final call. All the shares are subscribed and amount duly received. Pass necessary
journal entries in the following cases :
(i) When no direct record is made for cash transactions in the cash book.
(ii) When direct record is made for cash transactions in the cash book.​

Answer 1

Answer:

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