When share application & share allotment A/c keep combined (joint) in

1.	When share application & share allotment A/c keep combined (joint) in place of separate.
Answer» 1. On receipt of application money : Bank A/c Dr. To Share application and allotment A/c (No. of share applied x Application money per share) 2. On transfer of application money to share capital and allotment money due : Share application and allotment A/c Dr. To Share capital A/c (No. of Share alloted x Application money per share + Allotment money per share) 3. On refund of money to applicants on rejected applications : Share applications and allotment A/c Dr. To Bank A/c (No. of Rejected shares x Application money per share) 4. On receipt of allotment money : Bank A/c Dr. To Share application and allotment A/c (Actual amount received from share holders on allotment)

When share application & share allotment A/c keep combined (joint) in place of separate.

Answer»

1. On receipt of application money :

Bank A/c Dr.
To Share application and allotment A/c
(No. of share applied x Application money per share)

2. On transfer of application money to share capital and allotment money due :

Share application and allotment A/c Dr.
To Share capital A/c
(No. of Share alloted x Application money per share + Allotment money per share)

3. On refund of money to applicants on rejected applications :

Share applications and allotment A/c Dr.
To Bank A/c
(No. of Rejected shares x Application money per share)

4. On receipt of allotment money :

Bank A/c Dr.
To Share application and allotment A/c
(Actual amount received from share holders on allotment)