Govind Ltd. issued 5,000, 12% of Rs 100 each, at par, payable as follo

1.	Govind Ltd. issued 5,000, 12% of Rs 100 each, at par, payable as follows: On Appliacation Rs 20; On Allotment Rs 20; On first Call Rs 30; and On Final Call Rs 30. Public applied for 6,000 debentures. Applications for 4,500 debentures were accepted in full. Applications for 800 debentures were allotted 500 debentures and applications for 700 debentures were rejected. Money overpaid on applications was utilised towards allotment. Pass journal entries assuming that all moneys due were duly received, except final call on 200 debentures.
Answer» Govind Ltd. issued 5,000, $12 %$ of Rs 100 each, at par, payable as follows: On Appliacation Rs 20; On Allotment Rs 20; On first Call Rs 30; and On Final Call Rs 30. Public applied for 6,000 debentures. Applications for 4,500 debentures were accepted in full. Applications for 800 debentures were allotted 500 debentures and applications for 700 debentures were rejected. Money overpaid on applications was utilised towards allotment. Pass journal entries assuming that all moneys due were duly received, except final call on 200 debentures.

Govind Ltd. issued 5,000, 12% of Rs 100 each, at par, payable as follows: On Appliacation Rs 20; On Allotment Rs 20; On first Call Rs 30; and On Final Call Rs 30. Public applied for 6,000 debentures. Applications for 4,500 debentures were accepted in full. Applications for 800 debentures were allotted 500 debentures and applications for 700 debentures were rejected. Money overpaid on applications was utilised towards allotment. Pass journal entries assuming that all moneys due were duly received, except final call on 200 debentures.

Answer»

Govind Ltd. issued 5,000, $12 %$ of Rs 100 each, at par, payable as follows:

On Appliacation Rs 20; On Allotment Rs 20; On first Call Rs 30; and On Final Call Rs 30.

Public applied for 6,000 debentures. Applications for 4,500 debentures were accepted in full. Applications for 800 debentures were allotted 500 debentures and applications for 700 debentures were rejected. Money overpaid on applications was utilised towards allotment.

Pass journal entries assuming that all moneys due were duly received, except final call on 200 debentures.

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