3 Issue of Shares Prorata Based

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For full course, visit: https://academyofaccounts.org • Whatsapp : +91-8800215448 • Explained the concept of excess applications received by the company and how journal entries are made for pro-rata allotment of shares with the help of a question. • Question Information: • Delhi Ltd. was registered with a capital of Rs.3,00,000 divided in 30,000 shares of Rs.10 each payable as follows: • Application - Rs.2 per share 1st Call - Rs.2 per share • Allotment - Rs.3 per share Final Call - Rs.3 per share • Company received applications for 50,000 and allotted as per following scheme: • 10,000 applicants - Full • 30,000 applicants - Remaining Shares • 10,000 applicants - Nil • Money overpaid on application had been utilized toward allotment and money returned on rejected shares. Pass necessary journal entries for the above issue. • Student can also watch other lectures related with the same topic by following the below mentioned links : • 1. Forfeiture and Reissue of Shares (without pro-rata) - • Video • 2. Forfeiture of Shares issued at Premium (Pro-rata Based) - • Forfeiture of Shares issued at Premiu... • 3. Pro-rata based Forfeiture and Reissue of Shares (Type-2) - • Pro-rata based Forfeiture and Reissue... • 4. Forfeiture of Shares (Pro rata with hidden adjustment of Premium) - • Forfeiture of Shares - Hidden Adjustm... • 5. Issue of shares for consideration other then cash - • Issue of shares for consideration oth... • Students can download relevant study material from the below mentioned link for better understanding of the concepts... • Download Assignments: https://drive.google.com/drive/folder... • #IssueOfShares #ProRata #Accounting

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