Question

14. On 98.2.2019 the first call of 7 2 per share because due on 50,000 equity shares allotted by
Kumar Ltd. Komal, a holder of 1,000 shares did not pay the first call money. Kovil, a
Expenses (1
Unde erwriting Com.
1,00,000]
holder of 750 shares paid the second and final call of 4 per share alongwith first call.
Pass the necessary Journal entry for the amount received by opening calls-in-arrears and
calls in advance account in the books of the company.
(Ans. Calls-in-arrears (Dr.) 2,000Calls-in-advance (Cr. 3,000, Bank A/c (Dr.) 21,01,000
Over-subscription of Shares
(C.B.S.E., 2016)​

Answer 1

Answer:

Kumar Ltd. Komal, a holder of 1,000 shares did not pay the first call money. Kovil, a

Expenses (1

Unde erwriting Com.

1,00,000]

holder of 750 shares paid the second and final call of 4 per share alongwith first call.

Pass the necessary Journal entry for the amount received by opening calls-in-arrears and

calls in advance account in the books of the company.

(Ans. Calls-in-arrears (Dr.) 2,000Calls-in-advance (Cr. 3,000, Bank A/c (Dr.) 21,01,000

Over-subscription of Shares

(C.B.S.E., 2016)