Question

Sunrise limited incorporated on 1st January 2012 issued a prospectus inviting applications for 20,000 equity shares of rupees 10 each. The whole issue was fully underwritten by A, B, and C as follows:

A-10000 shares

B- 6000 shares

C - 4000 shares

Applications were received for 16,000 shares of which marked applications were as follows

A - 8000 shares

B- 2850 shares

C- 4150 shares

You are required to find out the liabilities of the individual underwriters and pass the journal entries.
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Answer 1

Answer:

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