Question

Vimal and nirmal are partners sharing profir

Answer 1

The Bangalore Bottling Co. Ltd. issued a prospectus inviting applications for 100000 equity shares of Rs.10 each, payable as Rs 2 on application Rs 3 on allotment and the balance at the discretion of the directors.Applications For 120000 shares were. received. The directors allotted the shares as follows : To applicants of 80000 shares - Full allotment. To applicants of 30000 shares -20000 shares . To applicants of 10000 shares - NIL. Give journal Entries assuming that all the sum due on allotment has been received no call has been made

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