Question

Bharucha co. limited issued Rs. 46000 shares of Rs. hundred each table as follows
Rs.25 on application
Rs. 35 on allotment
Rs. 25 on first call
Rs. 15 on second call
public applied for Rs. 40000 shares and all applications to allot the shares. All sums due on allotment and call were received. journalize the transactions in the book of Bharucha co. limited ​

Answer 1

Answer:

In the books of Bharucha co.ltd

Bank a/c dr 10,00,000

to share application a/c. 10,00,000

share application a/c dr 10,00,000

to share capital a/c. 10,00,000

share allotment a/c dr 15,00,000

to share capital a/c 15,00,000

Bank a/c dr 15,00,000

to share allotment a/c 15,00,000

share first call a/c dr 10,00,000

to share capital a/c 10,00,000

Bank a/c dr 10,00,000

to share first call a/c 10,00,000

share second call a/c dr 6,00,000

to share capital a/c 6,00,000

Bank a/c dr 6,00,000

to share second call a/c 6,00,000.

Pls include narration.

Hope this will be understandable.