Question No 9 Chapter 1 – Unimax Class 12 Part 2 – 2021
Table of Contents
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 |
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Share Capital: Meaning, Types, and Classes
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
