Question

On 1st February 2020, Raj Ltd. received in advance the first call of 325 per
share on 400 equity shares. The first call was due on 31st March 2020.
Journalise the above transactions.​

Answer 1

Answer:

hope it will help you

Answer 2

Given:  On 1st February 2020, Raj Ltd. received in advance the first call of Rs. @325 each  share on 400 equity shares. The first call was due on 31/3/2020

To Find :   Journalise the above transactions.

Solution :    

                         particulars                                     Amount               Amount

   Bank A/c                      Dr.                                  130000

             To, Calls -in -advance                                                           130000

[ First call money received in advance on 400 shares]

calls in advance A/c               Dr.                             130000

            To, Share first call A/c                                                             130000

[ Amount transferred to share first call A/C ]