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Minakshi Ltd. issued 12,000 equity shares of Rs. 10 each. Payable as Rs. 4 onapplication and balance amount due in allotment. All money duly received. Passnecessary journal entries. |
Answer» Journal entry in the books of MINAKSHI Ltd.Explanation: All the shares were FULLY SUBSCRIBED and fully received. Following is the Journal entry in the books of Minakshi Ltd. 1. Money on APPLICATION =12,000 shares x Rs. 4 = 48,000 2. Money on Allotment =12,000 Shares x Rs .6 = 72,000 |
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