Question

Moneyplus company issued 2,50,000 Equity Shares of * 10 each to public. All amounts have been received
in lump sum. Pass necessary Journal entries in the books of the company.​

Answer 1

Answer:

Journal entries

1 Bank A/c dr. 25,00,000

To equity share application and allotment a/c 25,00,000

(amount received on 2,50,000 equity shares for application and allotment)

2 Equity share application & allotment a/c dr. 25,00,000

To equity share capital a/c 25,00,000

(amount due on application and allotment for 2,50,000 equity shares @rs. 10 each)

Answer 2

Authorised Capital 2,50,000 equity shares of Rs.10 each issued and subscribed capital 2,50,000 shares

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