Zel Ltd. issued 1,000 9% debentures of 100 each payable, 20 on application and the balance on

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Zel Ltd. issued 1,000 9% debentures of ₹100 each payable, ₹20 on application and the balance on allotment. Applications were received for 1,500 debentures; out of which, applications for 900 were allotted fully. Applications for 400 debentures were allotted 100 debentures and the remaining were rejected. All sums due were received. 

Give journal entries and also show how these transactions will be reflected in the balance sheet of the company.

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Related Book For  answer-question

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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