Question - 12 (A)

Shyam Ltd. issued 5,000 shares of Rs. 100 each at Rs. 105 payable Rs. 20 on application; Rs. 35 on allotment (with premium) Rs. 30 on first call and rest on second call all the share amount were duly received in time pass journal entries in the books of company.


Question - 12 (B)

Shiva Syndicate issued 10,000 shares of Rs. 10 each at a premium of Rs. 2 per share. The amount was payable as follows:

On application Rs. 3, on allotment Rs. 5 (including premium) per share and rest on call. All amount was duly received. pass journal entries in the books of company.

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