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Citizen Watches Ltd. invited applications for 50,000 shares of Rs.10 each payable Rs.3 on application, Rs.4 on allotment and balance on first and final call. Applications were received for 6,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected. All calls were made and received except First and Final call on 500 shares.Pass the Journal entries in the books of Citizen Watches Ltd.

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Journal Entries

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

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