Question 43 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 43 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 6 Min Read December 20, 2020

Question No.43. - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 43 Chapter 8 of +2-A

Table of Contents

The solution of Question 43 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)

43.Black stone ltd. Issued 100000 equity shares of Rs 10 each at a premium of Rs 3 per share payable Rs 5 on the application , Rs 5 (including premium) on the allotment and the balance on the first call. All the shares offered were applied for and allotted. All the money due on the allotment was received except on 200 shares. A call was made .all the amount due thereon was received except on 300 shares. Director forfeited 200 shares on which both allotment and call money were on received.
Pass necessary journal entries to record above

The solution of Question 43 Chapter 8 of +2-A: –


Particulars		L.F.	Debit	Credit
Bank A/c	Dr		50,000
To share application A/c				50,000
(Being the application money received )
Share application A/c	Dr		50,000
To Share capital A/c				50,000
(Being application money transferred to equity share capital )
Share allotment A/c	Dr		50,000
To Security premium reserve A/c				20,000
To Share capital A/c				30,000
(Being the allotment money due )
Bank A/c	Dr		49,000
calls in arrear A/c	Dr		1,000
To Share allotment A/c				50,000
(Being allotment money received )
Share first call A/c	Dr		60,000
To share allotment. A/c				60,000
(Being the first call money due )
Bank A/c	Dr		58,800
Calls in arrear A/c	Dr		1200
To Share first call A/c				60,000
(Being first call money received )
Share capital A/c	Dr		1,400
Equity share premium reserve A/c	Dr		600
To Share allotment call. A/c				1,000
To forfeited shares A/c				1,000
(Being share forfeited )