Pass necessary Journal entries in the
7. Ashish Ltd. invited applications for 10,000 shares of 100 each payable as follows:
20 on application, 30 on allotment, 20 on first call and the balance on final call.
All the shares were applied and allotted. All the money was duly received.
You are required to Journalise these transactions,
the authorised capital of 3,00,000 divided into 3,000 shares of 10
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bank AC... dr 2,00,000
to share application AC 2,00,000
share application AC... Dr 2,00,000
to share capital AC 2,00,000
share allotment AC.... Dr 3,00,000
to share capital AC 3,00,000
bank ac..... Dr 3,00,000
to share allotment AC 3,00,000
share 1st call AC. . Dr 2,00,000
to share capital AC 2,00,000
bank AC.... Dr 2,00,000
to share 1st call AC 2,00,000
share 2nd and final call AC. . Dr 2,00,000
to share capital AC 2,00,000
bank AC.... Dr 3,00,000
to share 2nd and final call AC 3,00,000
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