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Question No 18 Chapter 1 - Unimax Class 12 Part 2 - 2021
X Ltd. invited application of 8,000 equity shares of ₹ 10 each issued at 40% premium. The whole amount was payable on application. The issue was under subscribed by 1000 shares. Pass the necessary journal entries.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| Bank A/c | Dr. | 98,000 | |||
| To Share application & allotment A/c | 98,000 | ||||
| (Being the application money received (8,000-1,000=7,000) @ 10*4 %) | |||||
| Shares application & allotment A/c | Dr. | 98,000 | |||
| To Share capital A/c | 70,000 | ||||
| To Securities premium | 28,000 | ||||
| (Being the application money received) | |||||
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.
This guide covers "Question no 18 Chapter 1- Class 12 Part 2 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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