5.Shares issued 10,000 @ Rs 10 per share and money received for 13,000 shares. Amount is payable Rs 2 on application, Rs 5 on allotment, Rs 3 on first and final call. If the company rejects the applications for 1,000 shares and allots the remaining on the pro rata basis.

5.Shares issued 10,000 @ Rs 10 per share and money received for 13,000

1.	5.Shares issued 10,000 @ Rs 10 per share and money received for 13,000 shares. Amount is payable Rs 2 on application, Rs 5 on allotment, Rs 3 on first and final call. If the company rejects the applications for 1,000 shares and allots the remaining on the pro rata basis.
Answer» tion:1)Bank A/c DR. 26,000To Share Application A/c 26,000(Application money received for 12,000 shares) 2) Share Application A/c Dr. 26,000 To Share Capital A/c (10,000 × Rs 2) 20,000To Share ALLOTMENT A/c (2,000 × Rs 2) 4,000 To Bank A/c (1,000 × Rs 2) 2,000(Amount received on share application ADJUSTED to Share Capital and share allotment and balance is refunded)3) Share Allotment A/c Dr. 50,000 To Share Capital A/c 50,000(Amount due on share allotment of 10,000 share @Rs 5 per share) 4) Bank A/c Dr. 46,000To Share Allotment A/c 46,000(Allotment money received, Rs 50,000 – Rs 4,000)

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5.Shares issued 10,000 @ Rs 10 per share and money received for 13,000 shares. Amount is payable Rs 2 on application, Rs 5 on allotment, Rs 3 on first and final call. If the company rejects the applications for 1,000 shares and allots the remaining on the pro rata basis.​

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5.Shares issued 10,000 @ Rs 10 per share and money received for 13,000 shares. Amount is payable Rs 2 on application, Rs 5 on allotment, Rs 3 on first and final call. If the company rejects the applications for 1,000 shares and allots the remaining on the pro rata basis.