pass the journal entries in the books of good luck ltd company assuming that amount 615736
Good Luck Ltd. Company was incorporated on 1 January 2010 with an authorized capital of Rs5,00,000 divided into shares ofRs10 each. It offered to the public for subscription 40,000 shares payable as follows:
On Application |
3 per Share |
On Allotment |
4 per Share |
On First and Final Call |
3 per Share |
(1 month After Allotment) |
The shares were fully subscribed by the public and the application money was duly received on 15 January 2010. The directors made the allotment on 1 February 2010.Pass the journal entries in the books of Good luck Ltd. Company, assuming that amount due have been received within 15 days of making the allotment and call.