Question 4: Chapter 10 - Company Accounts Part I (Accounting For Shares)
Book Keeping Accountancy Solutions for Class 12 Commerce Accountancy
PRACTICAL PROBLEMS
(Over Subscription and retain for allotment):
Geeta Ltd. invited applications for Rs 50,000 Equity shares of 10 each payable as under-
Public applied for Rs 60,000 shares. All the applications were accepted by the company. Money on excess application was used for allotment purpose. Assuming that all the allotment, first call and final call duly received.
Pass journal entries in the books of the company.
