x ltd with and authorized capital of ₹ 3000000 in shares of ₹10 each,issued ₹20000 of such shares, payable ₹2.5 per share on application ₹2.5 on allotment, ₹2.0 three months later, and the balance as and written required.
all money payable on application and alotment were duly received. give the journal entry.
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Application :
Bank A/C Dr 50,000
To Share Application A/C 50,000
Share Application A/C Dr 50,000
To Share Capital A/C 50,000
Allotment
Share Allotment A/C Dr 50,000
To Share Capital A/C 50,000
Bank A/C Dr 50,000
To Share Allotment A/C 50,000
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