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Question No 8 Chapter 1 - Class 12 Part 2 Unimax
Anant Ltd. issued prospectus inviting applications for 20,000 shares of ₹ 10 each, payable as ₹ 3 on the application; 2 on the allotment, and ₹ 2 on the first and final call. All shares were applied for. Pass the necessary journal entries.
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| A | Bank A/c | Dr. | 60,000 | ||
| To Equity Shares Application A/c | 60,000 | ||||
| (Being the receipt of application money on 20,000 equity shares @ ₹ 3 per share) | |||||
| B | Shares Application A/c | Dr. | 60,000 | ||
| To Equity share capital A/c | 60,000 | ||||
| (Being share application money transferred to share application A/c) | |||||
| C | Share Allotment A/c | Dr. | 1,00,000 | ||
| To Equity shares capital A/c | 1,00,000 | ||||
| (Being allotment money due on 20,000 shares @ ₹ 5 per share) | |||||
| D | Bank A/c | Dr. | 1,00,000 | ||
| To Share Allotment A/c | 1,00,000 | ||||
| (Being receipt of allotment money on 20,000 shares @ ₹ 5 per share) | |||||
| E | Shares first and final A/c | Dr. | 40,000 | ||
| To Share capital A/c | 40,000 | ||||
| (Being the amount due for first and final call on 20,000 shares @ ₹ 2 per share) | |||||
| F | Bank A/c | Dr. | 40,000 | ||
| To Share first and final call A/c | 40,000 | ||||
| (Being the receipt on first and final call money on 20,000 shares @ ₹ 2 per share) | |||||
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 8 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.
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