Question

Premio ltd issued 50,000 equity share of 100 each at premium of 50 per share payable as follow 100 on application and balance on the allotment.​

Answer 1

Answer:

Explanation: Bank a/c __ Dr   50,00,000

                                 To share application a/c  50,00,000

                     (being application money recieved)

2.      Share application a/c __ Dr  50,00,000

                    To share capital a/c        50,00,000

              (being application money due)

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