Question

Satyam Limited invited application for issue 10000 equity share of Rs 100 each at a premium of Rs 20 share the whole amount was payable on application the issue was fully subscribed was general entry pass necessary general

Answer 1

Journal entry 
      
bank A/c  Dr                                                   12,00,000
(100000*120)
      To share application & allotment    A/c                     12,00,000
(being share money  received )

share application and allotment A/c               12,00,000
          To share capital A/c                                             10,00,000                                 (10000*100)
           To securities premium A/c                                     2,00,000
               (10000*20)
(being share received have been allotted )

Hope its useful ...!!!!

Answer 2

Answer:

Particulars Dr. Cr.

Bank A/C Dr. 12L

To Eq. Share Application A/C 12L

Eq. Share Application A/C Dr. 12L

To Eq. Share Capital A/C 10L

To Secutitie Premiun Reserve (SPR) A/C 2L