(Answered) Question no 1x ltd issued 20000 share of rs-10 each payable

Accounting

Question no 1)

X LTD issued 20000 share of Rs-10 each payable as Rs-3 per share as application Rs-3 per share
as allotment & rs-4 per sharev as call .Application ware received on 22000 shares. The Director
Decided to rejected the Excess application money on 2000 share as refunded .
Show the necessary Journal entries.

Question no 2)

A company offer to The Public 12000 equity share Rs-10 each to be issued at Per. The issued was fully
under written by X at a commission of Rs-5.The company received application for 10000 share which
included marked application 8000 share. You are required to Calculate 1) the Liability of the Underwriter
2) its commission also journalised the entries

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