Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Global Sales Ltd. issued 2,50,000 Equity Shares of ₹10 each to the public at par for subscription, the amount being payable entirely as application money. Pass the necessary Journal entries in the books of the company.
JOURNAL
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Bank A/c Dr. | 25,00,000 | |||
| To Equity Share Application A/c | 25,00,000 | |||
| (Share application money received for 2,50,000 equity shares of ₹10 each) | ||||
| Equity Share Application A/c Dr. | 25,00,000 | |||
| To Equity Share Capital A/c | 25,00,000 | |||
| (Application money on 2,50,000 equity shares transferred to Share Capital Account) |
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 "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.11 - Share Capital", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 1 - Share Capital.
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.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.11 - Share Capital" instantly.