Akshat Co. Ltd. made an issue of 10, 000 equity shares of 10 each, payable as...

 

Transcribed Image Text:

Akshat Co. Ltd. made an issue of 10, 000 equity shares of 10 each, payable as follows: 2 per share 4 per share 3 per share On application On allotment On first call On second and final call 1 per share The company received applications for 15, 000 equity shares of which applications for 5,000 equity shares were rejected and money refunded. All the shareholders paid upto the second call except Kavita, the allottee of 1,000 equity shares who failed to pay upto the final call. Pass Journal Entries in the books of Akshat Co. Ltd. Akshat Co. Ltd. made an issue of 10, 000 equity shares of 10 each, payable as follows: 2 per share 4 per share 3 per share On application On allotment On first call On second and final call 1 per share The company received applications for 15, 000 equity shares of which applications for 5,000 equity shares were rejected and money refunded. All the shareholders paid upto the second call except Kavita, the allottee of 1,000 equity shares who failed to pay upto the final call. Pass Journal Entries in the books of Akshat Co. Ltd.

Answer rating: 100% (QA)

Particulars 1 Bank Ale Dr To Share Application Alc ... View the full answer