8. The Bangalore Bottling Co. Ltd. issued a prospectus inviting applications for 1,00,000 equity shares of Rs. 10 each, payable as Rs. 2 on application, Rs. 3 on allotment and the balance at the discretion of the directors. Applications for 1,20,000 shares were received. The directors allotted the shares as follows: To applicants of 80,000 shares - Full allotment To applicants of 30,000 shares - 20,000 shares To applicants of 10,000 shares – Nil. Give journal entries assuming that all the sum due on allotment has been received and no call has been made.

8. The Bangalore Bottling Co. Ltd. issued a prospectus inviting applic

1.	8. The Bangalore Bottling Co. Ltd. issued a prospectus inviting applications for 1,00,000 equity shares of Rs. 10 each, payable as Rs. 2 on application, Rs. 3 on allotment and the balance at the discretion of the directors. Applications for 1,20,000 shares were received. The directors allotted the shares as follows: To applicants of 80,000 shares - Full allotment To applicants of 30,000 shares - 20,000 shares To applicants of 10,000 shares – Nil. Give journal entries assuming that all the sum due on allotment has been received and no call has been made.
Answer» The Bangalore Bottling Co. Ltd. issued a prospectus inviting applications for 1,00,000 EQUITY shares of RS. 10 each, payable as Rs. 2 on application, Rs. 3 on ALLOTMENT and the balance at the discretion of the directors. Applications for 1,20,000 shares were RECEIVED

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