Accounting · Company Accounts
If applications for shares are accepted on a pro-rata basis and the excess application money paid by applicants is refunded, which of the following accounting entries specifically records this refund?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Share Application a/c Dr. To Share Capital a/c To Share Allotment a/c
- 2Share Application a/c Dr. To Share Capital a/c To Bank a/c
- 3Share Application a/c Dr. To Share Allotment a/c
- 4Share Application a/c Dr. To Bank a/c✓
Correct answer
Share Application a/c Dr. To Bank a/c
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