Question

XYZ Ltd invited application for 10000 shares of Rs 10 each payable as follows.Rs 2 on application,Rs 3 on allotment,Rs 2 on final call and the balance on final call.All the shares were applied and alloted.All the money was duly received except 200 shares on final call.Jornalise these transactions.​

Answer 1

Answer:

Bank account. dr 20000

To share application account 20000

Share application. account dr 20000

To share capital account. 20000

Share allotment account. dr 30000

To share capital account. 30000

Bank account. dr 30000

To share allotment account 30000

Share Ist call account. dr 20000

To share capital account. 20000

Bank account. dr 20000

To share ist call account 20000

Share final call account. dr 30000

To share capital account. 30000

Bank account. dr 29400

calls in arrear. dr 600

To share final call account 30000

Answer 2

Bank account. dr 20000

To share application account 20000

Share application. account dr 20000

To share capital account. 20000

Share allotment account. dr 30000

To share capital account. 30000

Bank account. dr 30000

To share allotment account 30000

Share Ist call account. dr 20000

To share capital account. 20000

Bank account. dr 20000

To share ist call account 20000

Share final call account. dr 30000

To share capital account. 30000

Bank account. dr 29400

calls in arrear. dr 600

To share final call account 30000