Question no 15 Chapter 1 - Unimax Class 12 Part 2

Question No 15 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 15 Chapter 1 of +2 Part-2: –

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

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

Sunil Ltd. issued a prospectus inviting application for 30,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable a follows: 2 on Application, ₹ 5 on Allotment (including premium), ₹ 3 on First call and Balance on Second and final call. Application were received for 30,000 shares. All money was duly received. Pass the Journal entries and prepare cash book

The solution of Question 15 Chapter 1 of +2 Part-2: –

Bank A/c

Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To Share application A/c		60,000		By Balance C/d		3,60,000
	(₹ 2 on 30,000 shares)
	To Share allotment A/c		1,50,000
	(₹ 5 on 30,000 shares)
	To Share first call A/c		90,000
	(₹ 3 on 30,000 shares)
	To Share final call A/c		60,000
	(₹ 2 on 30,000 shares)
			2,00,000				2,00,000

Journal

Date	Particulars		L.F.	Debit	Credit
	Shares Application A/c	Dr.		60,000
	To Share capital A/c				60,000
	(Being the application money on 30,000 shares transferred to share capital A/c)
	Share Allotment A/c	Dr.		1,50,000
	To Shares capital A/c				90,000
	To Securities Premium A/c				60,000
	(Being the amount due on allotment @ ₹ 5 per share on 30,000 shares including 2 per share premium)
	Shares first call A/c	Dr.		90,000
	To Share capital A/c				90,000
	(Being the amount due on 30,000 shares on first call @ ₹ 3 per share)
	Shares final call A/c	Dr.		60,000
	To Share capital A/c				60,000
	(Being the amount due on 30,000 shares on final call @ ₹ 2 per share)