19 :- Bright Ltd. issued 80,000 Equity Shares of Rs 10 each against which it received applications for 1,20,000 Shares. Application money was Rs 4. Allotment Money and First and Final Call was of Rs 3 each.
Pass the Journal Entry for allotment of shares ineach of the following cases :
Case 1 : Excess Applications were rejected.
Case 2 : Pro rata allotment is made.
Case 3 : Applications for 20,000 Shares were refused allotment and pro rata allotment was made to remaining.
Case 4 : Applications for 10,000 Shares were refused allotment, applications for 10,000 shares were alloted the shares applied and pro rata allotment was made to the remaining.
Solution :-
