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     EduGorilla 
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    V Ltd. Issued 20000 Equity shares of ₹10 each at a premium of ₹3 payable as follows: On Application ₹4 ; On Allotment ₹5 (including premium) On 1st call ₹2; On 2nd Call` 2.Applications were received for 30,000 shares and pro-rata allotment was made to all. Journal entry for the amount due on allotment will be ___

    Options :-

    1. Share Allotment A/c    Dr. 100000
              To Equity Share Capital A/c 60000
      To Securities Premium Account 40000

    2. Share Allotment A/c     Dr. 100000
                To Equity Share Capital A/c 50000
      To Securities Premium Account 50000

    3. Share Allotment A/c     Dr. 100000
              To Equity Share Capital A/c 30000
      To Securities Premium Account 70000

    4. Share Allotment A/c    Dr. 100000
             To Equity Share Capital A/c 40000
              To Securities Premium Account 60000

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Reply To: V Ltd. Issued 20000 Equity shares of ₹10 each at a premium of ₹3 payable as follows: On Applicat….
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