Question

x ltd. issued 10000 shares of Rs.10 each payable as 5 on application, 3 on allotment and balance on final call. Mr. X holding 500 shares failed to pay allotment and final call. Mr.Z holding 300 shares failed to pay final call. Journalize.​

Answer 1

Answer:

1.Bank account dr . 50000

to share application account 50000

2. share application account dr. 50000

to share capital account 50000

3. share allotment account dr. 30000

to shre capital account 30000

4. Bank account dr28500

to share allotment account 28500

5. share final call account dr. 20000

share capital account 20000

6. Bank account dr.17400

share final call account 17400