Question

(Pro -rata allotment) x ltd.issued 2,000,7% debenture of rs. 100each payable rs. 25 on application,rs. 35 on allotment and rs. 40 on first and final call.company received applications for 4,000 debenturs and allotment was made on pro-rata basis.Excess money was utilized on allotment. All money is duly received . pass necessary journal entries​

Answer 1

nmemejd29484959739e093939308394

Answer 2

Answer:

bank to debentures application 1 lakh

debentures application

To 7% Debenture 50,000

To allotment 50000

allotment to 7% Debenture 70000

bank to debentures allotment