Treatment of Excess received money on Appliction
Querist : Anonymous
Issue Price Rs. 12 per share {Rs. 2 Application., (3 on Allot. + Rs. 2 on Securities Premium due at d time of allotment) Rs. 5 on First and final call.
Now My Qn. is How we treat the excess amount received on application at the time of forfeiture of these shares.
excess of amount of Rs 100 used for Capital or securities premium.
What will be Journal entry.
Querist : Anonymous
Plz resolve the query..
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