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Question 06 Chapter 8 of +2-Part-1
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6. (Fully Subscribed/Journal Entries) Sky Rockets Ltd. make an issue of 10,000 equity shares of Rs. 100 each, payable Rs. 20 on application, Rs. 40 on allotment and Rs. 40 on call. All the shares are subscribed and amounts duly received. Pass journal entries to give effect to these.
The solution of Question 06 Chapter 8 of +2 Part-1: –
| Journal | |||||
| Date | Particulars | L.F. | Debit | Credit | |
| a) | Bank A/c | Dr. | 2,00,000 | ||
| To Equity Share Application A/c | 2,00,000 | ||||
| (Being application money received on 10,000 equity share shares @ 20 each received ) | |||||
| b) | Equity Share Application A/c | Dr. | 2,00,000 | ||
| To Equity Share capital A/c | 2,00,000 | ||||
| (Being application money transferred to Share cap. A/c) | |||||
| c) | Equity Share Allotment A/c | Dr. | 4,00,000 | ||
| To Equity Share capital A/c | 4,00,000 | ||||
| (Being allotment money due on 10,000 share @ 4 per shares) | |||||
| d) | Bank A/c | Dr. | 4,00,000 | ||
| To Equity Share Application & Allotment A/c | 4,00,000 | ||||
| (Being allotment money received on 10,000 share @ 4 as per shares ) | |||||
| e) | Equity share first & final Call A/c | Dr. | 4,00,000 | ||
| To Equity Share capital A/c | 4,00,000 | ||||
| (Being call money on 10,000 share @ 4 as per shares per the resolution of Board of directors ) | |||||
| f) | Bank A/c | Dr. | 4,00,000 | ||
| To Equity Share first & final Call A/c | 4,00,000 | ||||
| (Being first call money received on 10,000 share @ 4 as per shares ) | |||||
End of Solution
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
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Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Accounting Ratios
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
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2. Advanced Accountancy Part 1 Class 12 by Unimax Publication