Question

21. Blue Chip Ltd. was registered on 1st January, 2011 with a capital of 10,00,000 divided into 1,00,000 shares
of 10 each. The company issued 42,000 shares of which 40,000 shares were taken up by the public and
1 per share was received with application. On 1st February, these shares were allotted and 2 per share
was duly received on 28th February as allotment money. A first call of 73 per share was made on 1st March
and the call money on all shares with the exception of 100 shares was received. The final call of 4 per share
was made on 1st June and the amount due, with the exception of 400 shares, was received by 30th June.
Pass necessary Journal and Cash Book entries and prepare the Balance Sheet as at 30th June, 2011.​

Answer 1

Answer:

Explanation:

CASH BOOK

To share application a/c   40000         By balance c/d       398100

To share allotment             80000

To share first call              119700

To share final call             158400

JOURNAL

Share application a/c     40000

   To Share capital                           40000

share allotment             80000

 To share capital                              80000

share on first call      120000

   To share capital                          120000

call in arrears                 300

   To share first call                              300

share on final call       160000

   To  share capital                            160000

Call in arrears               1600

 To share final call                                     1600

Answer 2

Explanation:

balance sheet nahi bnai hai voh bna dena...