Question no 22 Chapter 1 - Unimax Class 12 Part 2

Question No 22 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 22 Chapter 1 of +2 Part-2: –

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

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

Monika Ltd. issued 3,000 shares of ₹ 10 each on the following terms:
₹ 2 on Application
₹ 3 on Allotments
₹ 1 on 1st Call
Balance on 2nd and final calls
3,200 shares were applied for 3,000 shares were accepted by the Directors and the balance was rejected. allotments money was duly received and 1st call money received on 2,950 shares.
Pass the necessary journal entries in the books of the company.

The solution of Question 22 Chapter 1 of +2 Part-2: –

Journal
Books of Sakshi

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr.		6,400
	To Shares Application A/c				6,400
	(Being application money received on 32,000 shares @ ₹ 2 per share)
	Shares Application A/c	Dr.		6,400
	To share capital A/c				6,400
	To Bank A/c				400
	(Being application money transfer to capital a/c and balance refunded)
	Share Allotment A/c	Dr.		9,000
	To shares capital A/c				9,000
	(Being allotment money due on 3,000 shares @ ₹ 3 per share)
	Bank A/c	Dr.		9,000
	To Share Allotment A/c				9,000
	(Being receipt of allotment money)
	Shares first call A/c	Dr.		3,000
	To Share capital A/c				3,000
	(Being first call money due on 3,000 shares @ ₹ 1 per share)
	Bank A/c	Dr.		2950
	Calls in arrears A/c	Dr.		50
	To Share first call A/c				3,000
	(Being the receipt of share first call a/c)
	Share second and final call A/c	Dr.		12,000
	To share capital A/c				12,000
	(Being 2nd and final call money and on 3000 shares @ ₹ 4 each)
	Bank A/c	Dr.		12,000
	To Share second and final Call A/c				12,000
	(Being money received of 2nd and final call a/c)