Question no 9 Chapter 1 - Unimax Class 12 Part 2

Question No 9 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 9 Chapter 1 of +2 Part-2: –

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

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

APJ limited issued a prospectus inviting applications for 30,000 shares of ₹ 10 each, payable as: ₹ 3 on application: ₹ 3 on allotment and ₹ 4 on first call.
Application were received for 30,000 shares. Allotment was made to all applicants. All dues were duly received. Give the necessary journal entries and opening balance sheet in the company’s books.

The solution of Question 9 Chapter 1 of +2 Part-2: –

Journal
Books of APJ Limited

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr.		90,000
	To Equity Shares Application A/c				90,000
	(Being the receipt of application money on 30,000 equity shares @ ₹ 3 per share)
	Shares Application A/c	Dr.		90,000
	To Equity share capital A/c				90,000
	(Being share application money transferred to share application A/c)
	Share Allotment A/c	Dr.		90,000
	To Equity shares capital A/c				90,000
	(Being allotment money due on 30,000 shares @ ₹ 3 per share)
	Bank A/c	Dr.		90,000
	To Share Allotment A/c				90,000
	(Being receipt of allotment money on 30,000 shares @ ₹ 3 per share)
	Shares first and final A/c	Dr.		1,20,000
	To Share capital A/c				1,20,000
	(Being the amount due for first and final call on 30,000 shares @ ₹ 4 per share)
	Bank A/c	Dr.		1,20,000
	To Share first and final call A/c				1,20,000
	(Being the receipt on first and final call money on 30,000 shares @ ₹ 4 per share)

Balance Sheet of APJ
As At ………

Particulars	Note No.	Amount Current year	Amount previous year
Equity and Liabilities
1 Share holders funds
a. share capital	1	3,00,000

Note to Amounts

Particulars	₹
1 share capital :
Authorized capital
……. equity shares of ₹…… each
Issued capital:
30,000 Equity shares ₹ 10 each	3,00,000
Subscribed capital
Subscribed and fully paid up capital
30,000 shares of @ 10 each	3,00,000