Satyam Limited invited application for 50000 equity share of rupees 10 each money was payable in full on application application we are received for 40000 which where duly allotment give necessary journal entries in the book of the company
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Explanation:
Bank A/C.............Dr. 4,00,000
To Eq. share application A/C4,00,000
(Being application money received)
2- Eq. share application A/C ..Dr. 4,00,000
To share capital A/C 4,00,000
(Being app. money transferred to Share capital)
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