Question no 12 Chapter 1 - Unimax Class 12 Part 2

Question No 12 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 12 Chapter 1 of +2 Part-2: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

A Ltd. Co. issued 10,000 shares of ₹ 100 each at a premium of ₹ 50 per shares, payable ₹ 30 per share on application. ₹ 70 per share on allotment (Including premium) ₹ 20per share on 1st call and ₹ 30 per share on the final call. All the shares were fully subscribed and all the money called duly received except the final call on 2,500 shares, Journalese.

The solution of Question 12 Chapter 1 of +2 Part-2: –

Journal
Books of ‘A’ Ltd.

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr.		3,00,000
	To Shares Application A/c				3,00,000
	(Being the receipt of application money received on 10,000 shares @ ₹ 30 per share)
	Shares Application A/c	Dr.		3,00,000
	To Share capital A/c				3,00,000
	(Being share application money transferred to share application A/c)
	Share Allotment A/c	Dr.		7,00,000
	To Shares capital A/c				2,00,000
	To Securities Premium A/c				5,00,000
	(Being allotment money due on 10,000 shares @ ₹ 70 each including premium of ₹ 50 per share)
	Bank A/c	Dr.		7,00,000
	To Share Allotment A/c				7,00,000
	(Being receipt of allotment money received)
	Shares first call A/c	Dr.		2,00,000
	To Share capital A/c				2,00,000
	(Being share first call money due on 10,000 shares @ ₹ 20 per share)
	Bank A/c	Dr.		2,00,000
	To Share first call A/c				2,00,000
	(Being the receipt of share first call)
	Share final A/c	Dr.		3,00,000
	To share capital A/c				3,00,000
	(Being final call money due on 10,000 share @ ₹ 30per share)
	Bank A/c	Dr.		2,25,000
	Calls in Arrear A/c	Dr.		75,000
	To Share final A/c				3,00,000
	(Being final call money received on 7500 shares and balance debit to calls in Arrear A/c)