Question 17 Chapter 8 of +2-A
Advertisement
Advertisement
Video Tag:17. Arti ltd. Offered for subscription 20,000 shares of Rs 20,000 of 10 each payable Rs 3 on the application , Rs 5 on allotment and balance on first and final call. The application was received for 30,000 shares. Letters of regret were issued to applicants for 5000 shares and their applications money was refunded. Application money refunded. Application money for other 5000 shares was applied towards the payment for allotment money. The balance of allotment money was also received in due time. The company didn’t make the first and final call.
You are preparing the journal, cash book ledger accounts and ‘share capital” in the balance sheet.
The solution of Question 17 Chapter 8 of +2-A: –
Date | Particulars |
L.F. | Debit | Credit | |
Bank A/c | Dr. | 90,000 | |||
To equity share application A/c | 90,000 | ||||
(Being the application money received ) | |||||
Equity Share application A/c | Dr. | 90,000 | |||
To Equity share capital A/c | 60,000 | ||||
To Equity share allotment a/c | 15,000 | ||||
To Cash A/c | 15,000 | ||||
(Being application money transferred to equity share capital ) | |||||
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 | 85,000 | |||
To Equity Share allotment A/c | 85,000 | ||||
(Being the first call money due ) |
(NOTE: the company didn’t make the first and final call )
Dr. | Cash Book | Cr. | |||||
Date | Particulars |
L.F. | Amount | Date | Particulars |
L.F. | Amount |
To equity share application a/c | 90,000 | By application a/c | 15,000 | ||||
To equity share allotment a/c | 85,000 | ||||||
By Balance C/d | 1,60,000 | ||||||
1,75,000 | 1,75,000 |
Dr. | Equity share application A/c | Cr. | |||||
Date | Particulars |
L.F. | Amount | Date | Particulars |
L.F. | Amount |
To Equity share application a/c | 60,000 | By cash a/c | 90,000 | ||||
To equity share allotment a/c | 15,000 | ||||||
To cash a/c | 15,000 | ||||||
90,000 | 90,000 |
Dr. | Equity shares allotment A/c | Cr. | |||||
Date | Particulars |
L.F. | Amount | Date | Particulars |
L.F. | Amount |
By cash a/c | 85,000 | ||||||
By equity share application a/c | 15,000 | ||||||
To equity share capital a/c | 1,00,000 | ||||||
1,00,000 | 1,00,000 |
Thanks, Please Like and share with your friends
Comment if you have any question.
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
Leave a Reply