Question

USEB. 2016
2x. Nagarjun Co. Ltd. with an authorised capital of 30,00,000 invited applications for 2.00.000
shares of 10 ench payable 3 on application, on allotment including prand
4 on first and final call. Application were received for 3.60.000 shares Alleman
made as follows:
a) To applicants of 1,50,000 Shares-1.50.000 Shares
(b) To applicants of 25.000 Shares Nil
e) To applicants of 1,85,000 Shares - 50,000 Shares
Excess money on application was adjusted against the sum due on allotment and
money due was duly received
Give Journal entries to record the above transactions
Ans. J/E, Total of Journal 51.60.0001
Hint: Adjustment of excess application money 2.00.000 against Allent 000​

Answer 1

Answer:

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