Table making for adjustment of extra money received at the time of application:-

Some time when company issue shares , the people can send more application than issue of share .At this time company has two power
1st power
To reject and refund the application money to application giver
At this time company pass the following journal entry
Share Application account Debit xxxxx
Bank Account Credit xxxx

Second power
Company can use second power and adjust application money with allotment money
Or adjust balance with call money

For Example →
Suppose xy company issued 10000 shares @ Rs. 10
Application money @Rs.5
Allotment money @ RS.3
Call money @ RS.2
and application received by company 20000
. Company can make pro-rata adjustment of oversubscription
It means company gives 7000 applicant’s share fully 7000 shares , the application of 5000 will give 3000 shares and and 8000 share will nothing means refund their amount.

For above adjustment we want to make a table with nine column .I have give the image by solving above example in this table . From this table you can calculate adjustment of application money with allotment.
Then pass following adjustment entry
Share Application Account Debit xxxx
Share Allotment Account Credit xxxx


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Accounting Education: Table making for adjustment of extra money received at the time of application:-
Table making for adjustment of extra money received at the time of application:-
Accounting Education
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