Question 25 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 25 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 7 Min Read December 20, 2020

Question No.25 - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 25 Chapter 8 of +2-A

Table of Contents

The solution of Question 25 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)

25. Green ltd. Issued 8,000 Equity shares of Rs 10 each.Rs 5per share was called, payables Rs 2on application Rs 1 on the allotment, Rs 1 on the first call and Rs 1 on the second call. All the money was duly received with the following exception :

A who holds 250 shares paid nothing after application

B who holds 500 shares paid nothing after allotment

C who holds 1,250 shares paid nothing after the first call

The solution of Question 25 Chapter 8 of +2-A: –

Date	Particulars		L. F.	Debit	Credit
	Bank A/c	Dr.		16,000
	To equity share application A/c				16,000
	(Being the application money received )
	Equity Share application A/c	Dr.		16,000
	To Equity share capital A/c				16,000
	(Being application money transferred to equity share capital )
	Equity Share allotment A/c	Dr		8000
	To Share capital A/c				8000
	(Being the allotment money due )
	Bank A/c	Dr		7750
	Calls in arrear A/c	Dr		250
	To Equity Share allotment A/c				8000
	(Being application money transferred to equity share capital )
	Share first call A/c	Dr.		8000
	To Share capital A/c				8000
	(Being the first call money due )
	Cash A/c	Dr.		7250
	calls in arrear A/c	Dr.		750
	To Share first and final call A/c				8000
	(Being first and final call money received )
	Share final call A/c	Dr		8000
	To Share capital A/c				8000
	(Being the final call money due )
	Cash A/c	Dr		6000
	Calls in arrear A/c	Dr		2000
	To Share first call A/c				8000
	(Being final call money received )

Cash Book		Cr.
Particulars (1)	Note no. (2)	Figures as at the end of the Previous Reporting Period (3)
I. Equity and Liabilities
1. Shareholders’ Funds
(a) Share Capital	(1)	37,000
		37,000

Equity share capital A/c		Cr.
Particulars	Details	Amount
Share capital
Authorized capital
8000 Equity share of Rs 10each		80,000
Issued capital
8000 equity shares of Rs 10 each		40,000
Subscribed capital
Subscribed and fully paid-up
8000 Equity shares of Rs 10 each(Rs 5 called)
On application (8000 *Rs 2 each )	16,000
On allotment (8000*Rs 1 each )- calls in arrear (250)	7750
On first call (8000 *Rs 1 each ) – calls in arrear (750)	7250
On first call (8000 *Rs 1 each )- calls in arrear ( 2000)	6000
		37,000
share capital (subscribed)		37,000