Question 09 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 8 of +2-Part-1

9. (Under subscription) A limited company issued 10,000 shares of 100 each payable asunder:
Rs. 20 on application
Rs. 30 on allotment
Rs. 50 on final call.
The public applied for 9,000 shares which were allotted. All the money due on shares were received. Pass journal entries in the books of the company and prepare Cash Book and Balance Sheet.

The solution of Question 09 Chapter 8 of +2 Part-1: –

Journal
Date	Particulars		L.F.	Debit	Credit
a)	Share Application A/c	Dr.		1,80,000
	To Share capital A/c				1,80,000
	(Being application money of 9,000 shares transferred to share cap. A/c )
b)	Share Allotment A/c	Dr.		2,70,000
	To Share capital A/c				2,70,000
	(Being allotment due on 9,000 shares @ 30 per share )
c)	Share Application A/c	Dr.		4,50,000
	To Share capital A/c				4,50,000
	(Being final call due )

Cash Book (Bank Cloumn only)
Particulars	Amount	Particulars	Amount
To Share application A/c	1,80,000	By Balance c/d	9,00,000
To Share allotment A/c	2,70,000
To Share final call A/c	4,50,000
	9,00,000		9,00,000

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