Accountancy, asked by khizrakhaan14, 6 months ago

Lovely Ltd. issued 40,000 shares of 10 each payable as follows:
On application 6 and balance on allotment.
Public applied for 65,000 shares. Shares were allotted on pro rata basis of the applicants of
50,000 shares. Money overpaid on applications was employed on account of sum due on allotme
All the shareholders have paid the amount up to allotment except Mohan, the allottee of 8,000 shars.
Pass necessary Journal entries.​

Answers

Answered by nandinijoshi25
1

Answer:

what is this I don't know the answers

Explanation:

what is this I don't know the answers

Answered by pateldivija445
3

Answer:

Bank a/c                      Dr          3,90,000

   To Share application a/c        3,90,000

Share Application a/c Dr            3,90,000

   To Share Capital a/c                 2,40,000

    To Share Allotment a/c              1,50,000

Share Allotment a/c Dr                 1,60,000

    To share capital a/c                    1,60,000

calls in arrears a/c Dr                     10,000

     To share allotment a/c                10,000

Explanation:

Since in the last stage only 10,000 remains deficient it will be recorded in the calls in arrears a/c.

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