Question 08 Chapter 8 of +2-Part-1
8. (Journal Entries/Cash Book) Star Company issued 80,000 12% preference shares of Rs. 100 each payable Rs. 40 on application; Rs. 20 on allotment and Rs. 40 on final call.
Applications were received for 70,000 shares. The amount was duly received. Prepare journal and cash Book.
The solution of Question 08 Chapter 8 of +2 Part-1: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| a) | 12% Pref. Share Application A/c | Dr. | 28,00,000 | ||
| To 12% Pref. Share capital A/c | 28,00,000 | ||||
| (Being 70,000 shares allotted ) | |||||
| b) | 12 % Pref. Share Allotment A/c | Dr. | 14,00,000 | ||
| To 12 % Pref. Share capital A/c | 14,00,000 | ||||
| (Being allotment due ) | |||||
| c) | 12% Pref. Share Application A/c | Dr. | 28,00,000 | ||
| To 12% Pref. Share capital A/c | 28,00,000 | ||||
| (Being final call due ) | |||||
Cash Book (Bank Cloumn only) |
|||
| Particulars |
Amount | Particulars | Amount |
| To 12 % Preference Share capital A/c | 28,00,000 | By Balance c/d | 70,00,000 |
| To Preference Share allotment A/c | 14,00,000 | ||
| To Preference Share final call A/c | 28,00,000 | ||
| 70,00,000 | 70,00,000 | ||
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
