Kanpur Gas Ltd. issued 40,000 equity shares of Rs. 10 each at a premium of Rs. 1 p
Channel: Doubtnut
Date: 2020-04-26

Kanpur Gas Ltd. issued 40,000 equity shares of Rs. 10 each at a premium of Rs. 1 per share. Amount were payable as follows :  Rs. 2.50 on Application , Rs. 4.50 on Allotment (including premium), Rs. 2 on First Call and Rs. 2 on Final Call.  Applications were received for 37,000 shares.  Give Journal Entries assuming that all sums have been received on due dates.