Match List-I with List-IIList-I (Allotment Stage)List-II (Journal Entry)(A) For Transfer of Application Money(I) Share Application A/c Dr. To Bank A/c(B) For Money Refunded on Rejected Application(II) Bank A/c Dr. To Share Allotment A/c(C) For Amount Due on Allotment(III) Share Application A/c Dr. To Share Capital A/c(D) For Receipt of Allotment Money(IV) Share Allotment A/c Dr. To Share Capital A/cChoose the correct answer from the options given below:
- A(A) - (III), (B) - (I), (C) - (IV), (D) - (II)
- B(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Accounting steps for share issues:Transfer of Application Money to Share Capital: (III)Refunding Rejected Application Money: (I)Allotment Money Due: (IV)Receipt of Allotment Money: (II)Matches: (A) - (III), (B) - (I), (C) - (IV), (D) - (II).