Question

x ltd. whose authorised capital was 50,00,000,issued 20,000 equity shares of 100 each payable as follows
20 on application
25 on allotment
30 on First call
25 on Final call
all The share were subscribed and amount were duly received. expenses on issue of shares amounted to 50,000 pass necessary Journal entrries.​

Answer 1

Explanation:

Here is a solution .....

Answer 2

Answer: cash at bank 1950000

Explanation: share issue expenses 50000