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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
National Textiles Ltd. was registered with an authorised capital of ₹3,00,000, divided into 3,000 shares of ₹100 each, which were offered to the public. Amount payable: ₹30 per share on application, ₹40 per share on allotment, ₹30 per share on first and final call. These shares were fully subscribed and all money was duly received. Prepare the Journal and Cash Book.
JOURNAL
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| Share Application A/c Dr. | 90,000 | |||
| To Share Capital A/c | 90,000 | |||
| (Application money on 3,000 shares @ ₹30 transferred to Share Capital) | ||||
| Share Allotment A/c Dr. | 1,20,000 | |||
| To Share Capital A/c | 1,20,000 | |||
| (Allotment money on 3,000 shares @ ₹40 transferred to Share Capital) | ||||
| Share First and Final Call A/c Dr. | 90,000 | |||
| To Share Capital A/c | 90,000 | |||
| (First and final call money on 3,000 shares @ ₹30 transferred to Share Capital) |
CASH BOOK
| Particulars | ₹ | Particulars | ₹ |
|---|---|---|---|
| To Share Application A/c | 90,000 | By Balance c/d | 3,00,000 |
| To Share Allotment A/c | 1,20,000 | ||
| To Share First and Final Call A/c | 90,000 | ||
| Total | 3,00,000 | Total | 3,00,000 |
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.14 - 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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