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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
The authorised capital of ₹16,00,000 of Bharat Ltd. is divided into 1,60,000 Equity Shares of ₹10 each. Of these, 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. Pass the necessary Journal entries in the books of the company.
JOURNAL
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Bank A/c Dr. | 8,00,000 | |||
| To Equity Share Application A/c | 8,00,000 | |||
| (Share application money received for 80,000 Equity Shares of ₹10 each) | ||||
| Equity Share Application A/c Dr. | 8,00,000 | |||
| To Equity Share Capital A/c | 8,00,000 | |||
| (Application money on 80,000 shares of ₹10 each 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.12 - 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.
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