Question 16 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 16 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 5 Min Read December 20, 2020

Question No.16 - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 16 Chapter 8 of +2-A

Table of Contents

The solution of Question 16 Chapter 8 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

16. Citizen watches ltd invited applications for 50000 shares of Rs 10 each payable on Rs 3 on application ,Rs 44 on allotment and balance on first and final call. Application were received for 60,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected . All calls were ,made and received except first and final call on 500 shares.

The solution of Question 16 Chapter 8 of +2-A: –

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr.		1,80,000
	To equity share application A/c				1,80,000
	(Being the application money received )
	Equity Share application A/c	Dr		1,80,000
	To Equity share capital A/c				1,50,000
	To Cash A/c				30,000
	(Being application money transferred to equity share capital )
	Equity Share allotment A/c	Dr		2,00,000
	To Share capital A/c				2,00,000
	(Being the allotment money due )
	Cash A/c	Dr		2,00,000
	To Equity Share allotment A/c				2,00,000
	(Being the first call money due )
	Share first and final call A/c	Dr		1,50,000
	To Share capital A/c				1,50,000
	(Being the first call money due )
	Cash A/c			1,48,500
	Calls in arrear A/c	Dr		1500
	To Share first and final call A/c				1,50,000
	(Being first and final call money received )