Explanation:

applied shares= 60,000                                                         Rs 3 on applications, Rs5 on allotment and the balance on final call

alloted shares= 50,000

prorata shares= 10,000                                                         ( 60,000-50,000)   (excess apllication received)

              allotment money received=Rs  2,50,000                          (50,000*5) (no. of shares alloted * allotment money per share)

excess application money received=Rs. 30,000                           (10,000*3) (pro-rata shares* application money per share)

entry On Share Allotment due

Share Application A/c dr.                    Rs  2,50,000    

                                     to Share Allotment A/c              Rs. 30,000    

                                      to share capital a/c                  Rs.2,20,000          (allotment money on excess application received)

(Being share application money adjusted )