Question 02 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 02 Chapter 8 of +2- Part

Question 02 Chapter 8 of +2-Part-1

Free Accounting book Solution - Class 11 and Class 12

2. (Journal Entries) Harry Ltd., issued Rs. 3,00,000 shares of Rs. 10 each, payable as follows:
Rs. 3 on application, Rs. 5 on allotment and Rs. 2 on first and final call All money were duly received.
Pass journal entries.

The solution of Question 02 Chapter 8 of +2 Part-1: –

Journal
Date   Particulars
L.F. Debit Credit
a) Bank A/c Dr.   9,00,000  
  To Share Application A/c       9,00,000
  (Being application money received )        
           
b) Share Application A/c Dr.   9,00,000  
  To Share capital A/c       9,00,000
  (Being share allotted )        
           
c) Share Allotment A/c Dr.   15,00,000  
  To Share capital A/c       15,00,000
  (Being allotment due )        
           
d) Bank A/c Dr.   15,00,000  
  To Share Allotment A/c       15,00,000
  (Being allotment money received )        
           
e) Share first & Final Call A/c Dr.   6,00,000  
  To Share capital A/c       6,00,000
  (Being final call due )        
           
f) Bank A/c Dr.   6,00,000  
  To Share first & Final Call A/c       6,00,000
  (Being final call received )        
         

Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 02 Chapter 8 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

Leave a Reply

Your email address will not be published. Required fields are marked *