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Treatment of Excess received money on Appliction

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2010 X applied for 150 shares and 100 shares allotted to him. FV of Rs. 10.
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.
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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2010 Dear Expert,
Plz resolve the query..
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
04 August 2023
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