Illustration 12 (Pro rata Allotment in Different Cases). Mandal Ltd. inviteu apputuuvissue of 25,000 shares of 10 each. The amount was payable as: * 4 on application; * 3 onallotment; * 3 on first and final call. Mandal Ltd. has decided to make pro rata allotment ifshares applied by the public are more than the shares issued and to utilise surplus moneytowards allotment.Pass necessary Journal entries in each of the following cases:Case I: If the applications are received for 37,500 shares.Case II: If the applications are received for 43,750 shares.Case III: If the applications are received for 50,000 shares.Case IV: If the applications are received for 55,000 shares.

Illustration 12 (Pro rata Allotment in Different Cases). Mandal Ltd. i

1.	Illustration 12 (Pro rata Allotment in Different Cases). Mandal Ltd. inviteu apputuuvissue of 25,000 shares of 10 each. The amount was payable as: * 4 on application; * 3 onallotment; * 3 on first and final call. Mandal Ltd. has decided to make pro rata allotment ifshares applied by the public are more than the shares issued and to utilise surplus moneytowards allotment.Pass necessary Journal entries in each of the following cases:Case I: If the applications are received for 37,500 shares.Case II: If the applications are received for 43,750 shares.Case III: If the applications are received for 50,000 shares.Case IV: If the applications are received for 55,000 shares.
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