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Question 6 Chapter 8 of +2-A
6. The authorized capital of Rs 16,00,000 of Bharat ltd .is divided into equity shares of Rs 10 each of these shares,80,000 equity shares were issued at par to the public for subscription .the full nominal value is payable on application. All the shares were subscribed by the public and the total amount was paid for.
Pass necessary journal entries in the books of company.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Bank A/c | Dr. | 8,00,000 | |||
| To equity share application A/c | 8,00,000 | ||||
| (Being the application money received ) | |||||
| Equity Share application A/c | Dr | 8,00,000 | |||
| To Equity share capital A/c | 8,00,000 | ||||
| (Being application money transferred to equity share capital ) | |||||
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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