Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Ghosh Ltd. made the second and final call on its 50,000 Equity Shares @ ₹2 per share on 1st January, 2016. The entire amount was received on 15th January, 2016 except on 100 shares allotted to Venkat. Pass the necessary Journal entries for the call money due and received, opening a Calls-in-Arrears Account. (CBSE 2006 C, Modified)
JOURNAL (Books of Ghosh Ltd.)
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
|---|---|---|---|---|
| 2016 Jan 1 | Share Second and Final Call A/c Dr. | 1,00,000 | ||
| To Equity Share Capital A/c | 1,00,000 | |||
| (Second and final call due on 50,000 shares @ ₹2) | ||||
| Jan 15 | Bank A/c Dr. | 99,800 | ||
| Calls-in-Arrears A/c Dr. | 200 | |||
| To Share Second and Final Call A/c | 1,00,000 | |||
| (Call received from 49,900 shares; 100 shares held by Venkat in arrears) |
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.34 - 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.34 - Share Capital" instantly.