question_answer

Vinod Ltd. invited application for 10000 shares of the value of Rs.10 each. The amount is payable as Rs.2 on application and Rs.2 on allotment and balance on First and Final call. The whole of the above issue was applied and cash duly received. Journal entry for the application money received :

A)

Bank Account	Dr.	20,000
To Share Application A/c			20,000

 

B)

Bank Account	Dr.	2000
To Share Application A/c			2000

 

C)

Bank Account	Dr.	20000
To Share Allotment A/c			20000

 

D)

Share Application	Dr.	20000
To Share Allotment A/c			20000