Q.20 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 20, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 20
Pragati Ltd. issued 80,000 Equity Shares of ₹ 10 each against which it received applications for 1,20,000 Shares. Application Money was ₹ 4, Allotment Money and First and Final Call was of ₹ 3 each.
Pass the Journal entry for allotment of shares in each of the following cases:
Case 1: Excess Applications were rejected.
Case 2: Pro rata allotment is made.
Case 3: Applications for 20,000 Shares were refused allotment and pro rata allotment was made to remaining.
Case 4: Applications for 10,000 Shares were refused allotment, applications for 10,000 shares were allotted the shares applied and pro rata allotment was made to the remaining.
Solution
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