Question 15 Chapter 8 of +2-A
Table of Contents
15. Sangam ltd. Invited applications for 10,000 equity shares of Rs 100 each at par. The amount was payable on application. The issue was oversubscribed by 2000 shares and allotment was pro-rata basis. Pass necessary journal entries.
(NOTE: application money not given in the question that’s why we assumed application money @RS 20 per share, allotment money @Rs 10 per share )
The solution of Question 15 Chapter 8 of +2-A: –
| Date | Particulars |
L.F. | Debit | Credit | |
| Bank A/c | Dr. | 2,40,000 | |||
| To equity share application A/c | 2,40,000 | ||||
| (Being the application money received ) | |||||
| Equity Share application A/c | Dr | 2,40,000 | |||
| To Equity share capital A/c | 2,00,000 | ||||
| To Equity share allotment a/c | 40,000 | ||||
| (Being application money transferred to equity share capital, excess money transferred to Equity share allotment ) | |||||
| Equity Share allotment A/c | Dr | 1,00,000 | |||
| To Share capital A/c | 1,00,000 | ||||
| (Being the allotment money due ) | |||||
| Cash A/c | Dr | 60,000 | |||
| To Equity Share allotment A/c | 60,000 | ||||
| (Being the first call money due ) | |||||
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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