A one Product Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 50,000 Equity Shares of ₹ 20 each
A-one Product Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 50,000 Equity Shares of ₹ 20 each. It issued 25,000 Equity Shares for Subscription at premium of ₹ 2 per share, issue price being payable along with application. It received ₹ 4,62,000 towards application money.
You are required to pass the necessary Journal entries.
Anurag Pathak Changed status to publish September 9, 2023
Solution:-
Note:- As Minimum Subscription 25000 × 90% = 22500 shares is not received. Thus application money is refunded.
Anurag Pathak Changed status to publish September 9, 2023
