Question

Rama Co. issued 50,000 shares of ₹10 each payable as foloows: ₹3 on application ₹3 on allotment. ₹2 on first call ₹2 on final call. all the shares were subscribed and alloted

Answer 1

Answer:

Bank a/c. dr 150000

to share application a/c. 150000

Share application a/c. dr 150000

to share Capital a/c. 150000

Share allotment a/c. dr 150000

to share Capital a/c. 150000

Bank a/c. dr 150000

to share allotment a/c 150000

Share of 1st call a/c. dr 100000

to share Capital a/c. 100000

Bank a/c. dr 100000

to share of 1st call 100000

Share of 2nd and final call a/c. dr 100000

to Share Capital a/c. 100000

Bank a/c. dr 100000

to share of 2nd and final call a/c 100000

Hope it helps you