Question - 11

A limited company offered for subscription of 1,00,000 equity shares of Rs. 10 each at a premium of Rs. 2 per share, 2,00,000, 10% preference shares of Rs. 10 each at per. 

The amount on share was payable as under:

Equity share : On application Rs. 3 per share, on allotment Rs. 5 per share (including premium), On first call Rs. 4 per share.

Preference share : On application Rs. 3 per share, on allotment Rs. 4 per share, On first call Rs. 3 per share.

All the shares were fully subscribed, called up and paid.

Record these transations in the journal and cash book of the company.

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