Question

Satyam ltd invited Aplications for
50.000 Equity shares of a 10 each. money
was payable in fult on application
Applications where received her 48,000
shares wit which were delly allathed.
give necessary journal ensies
in the books of the company.​

Answer 1

Bank Account debit 4,80,000

Share Application and allot A/c Credit 4,80,000

Explanation:

Being All the payment against 48000 share were received at the time of application