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how can i improve my accounting. i want to know make balance sheet so how can i do ?
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Answer / litu
YOU CAN IMPROVING YOUR ACCOUNTING BY PRACTICE UNDER THE CA FIRM, THEIR YOU CAN ALSO DO BALANCE SHEET WORK.
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Sanjay Ltd invited applications from the public for the issue of 10,000 equity shares of Rs. 10 each at a premium of 20%, payable Rs. 3 on application; Rs. 5 on allotment including premium and the balance in two calls of an equal amount. Applications for 15,000 equity shares were received. The directors allotted 10,000 shares to all the applicants on pro-rata basis adjusting the excess application money towards allotment. All money due on allotment and calls were received. Give journal entries to record the above transactions in the books of the company. Also show the balance sheet.
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