Question no 8 Chapter 1 - Unimax Class 12 Part 2

Question No 8 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 8 Chapter 1 of +2 Part-2: –

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

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

Anant Ltd. issued prospectus inviting applications for 20,000 shares of ₹ 10 each, payable as ₹ 3 on application; 2 on allotment and ₹ 2 on first and final call. All shares were applied for. Pass the necessary journal entries.

The solution of Question 8 Chapter 1 of +2 Part-2: –

Journal
Books of Anant Ltd.

Date	Particulars		L.F.	Debit	Credit
A	Bank A/c	Dr.		60,000
	To Equity Shares Application A/c				60,000
	(Being the receipt of application money on 20,000 equity shares @ ₹ 3 per share)
B	Shares Application A/c	Dr.		60,000
	To Equity share capital A/c				60,000
	(Being share application money transferred to share application A/c)
C	Share Allotment A/c	Dr.		1,00,000
	To Equity shares capital A/c				1,00,000
	(Being allotment money due on 20,000 shares @ ₹ 5 per share)
D	Bank A/c	Dr.		1,00,000
	To Share Allotment A/c				1,00,000
	(Being receipt of allotment money on 20,000 shares @ ₹ 5 per share)
E	Shares first and final A/c	Dr.		40,000
	To Share capital A/c				40,000
	(Being the amount due for first and final call on 20,000 shares @ ₹ 2 per share)
F	Bank A/c	Dr.		40,000
	To Share first and final call A/c				40,000
	(Being the receipt on first and final call money on 20,000 shares @ ₹ 2 per share)