10:[["$","title","0",{"children":"CUET Accountancy - Choose journal entries in the books of High Light India Ltd on receiving Application money : | PYQs + Solutions | AfterBoards"}],["$","meta","1",{"name":"description","content":"undefined When applications are received, the company col<=cts application money from **all applicants**, regard<=ss of how many will actually be allotted shares. Applications were received for **40,000 shares**. Application money per share = Rs. 40 Total application money received = 40,000 shares × Rs. 40 = **Rs. 16,00,000**

**Journal Entry:** Bank A/c Dr. 16,00,000 To Share Application A/c 16,00,000 *(Being application money received on 40,000 shares @ Rs. 40 per share)*

The crucial point here is that the company receives application money from **40,000 applicants** at this sta>=, even though only 30,000 shares will ultimately be allotted. The adjustment for excess applications (through refund or adjustment towards allotment) happens at the time of allotment entry, not at the application sta>=. **Correct Option: 1**"}],["$","link","2",{"rel":"manifest","href":"https://www.afterboards.in/manifest.json","crossOrigin":"$undefined"}],["$","meta","3",{"name":"keywords","content":"CUETACC,ACC,Company Accounts,Share Capital"}],["$","meta","4",{"name":"robots","content":"index, follow"}],["$","meta","5",{"name":"category","content":"education"}],["$","meta","6",{"name":"google-site-verification","content":"google"}],["$","meta","7",{"property":"og:title","content":"CUET Accountancy - Choose journal entries in the books of High Light India Ltd on receiving Application money : | PYQs + Solutions"}],["$","meta","8",{"property":"og:description","content":"undefined When applications are received, the company col<=cts application money from **all applicants**, regard<=ss of how many will actually be allotted shares. Applications were received for **40,000 shares**. Application money per share = Rs. 40 Total application money received = 40,000 shares × Rs. 40 = **Rs. 16,00,000**

**Journal Entry:** Bank A/c Dr. 16,00,000 To Share Application A/c 16,00,000 *(Being application money received on 40,000 shares @ Rs. 40 per share)*

The crucial point here is that the company receives application money from **40,000 applicants** at this sta>=, even though only 30,000 shares will ultimately be allotted. The adjustment for excess applications (through refund or adjustment towards allotment) happens at the time of allotment entry, not at the application sta>=. **Correct Option: 1**"}],["$","meta","9",{"property":"og:url","content":"https://www.afterboards.in/past-year-questions/cuet-accountancy/2025/slot-3/49"}],["$","meta","10",{"property":"og:site_name","content":"AfterBoards | CUET Accountancy Preparation"}],["$","meta","11",{"property":"og:image","content":"https://www.afterboards.in/pyp/AfterBoards%20CUET%20Past%20Year%20Papers%20with%20Solutions.webp"}],["$","meta","12",{"property":"og:type","content":"website"}],["$","meta","13",{"name":"twitter:card","content":"summary_large_image"}],["$","meta","14",{"name":"twitter:site","content":"afterboards.in"}],["$","meta","15",{"name":"twitter:title","content":"CUET Accountancy - Choose journal entries in the books of High Light India Ltd on receiving Application money : | PYQs + Solutions"}],["$","meta","16",{"name":"twitter:description","content":"undefined When applications are received, the company col<=cts application money from **all applicants**, regard<=ss of how many will actually be allotted shares. Applications were received for **40,000 shares**. Application money per share = Rs. 40 Total application money received = 40,000 shares × Rs. 40 = **Rs. 16,00,000**

**Journal Entry:** Bank A/c Dr. 16,00,000 To Share Application A/c 16,00,000 *(Being application money received on 40,000 shares @ Rs. 40 per share)*

CUET Accountancy 2025 14 May Shift 1 PYQs

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