Anand Company Limited issued 1,00,000 Preference share of 10 each payable as On. On Application 4 On Allotment 3 On First Call 2 On Second & Final Call 1 Company received application for all these shares and received all money. Pass Journal Entries in the books of Anand Company Ltd

-


 


Anand Company Limited issued 1,00,000 Preference share of 10 each payable as On  

On Application 4 


On Allotment 3 


On First Call 2 


On Second & Final Call 1 


Company received application for all these shares and received all money. 
 
Pass Journal Entries in the books of Anand Company Ltd. 
 

Solution: 

Journal Entry  
In the Books of Anand Co. Ltd. 

Date 

Particulars 

J.F 

Debit ₹ 

Credit ₹ 

1. 

Bank A/c Dr. 

  To Preference Share Application A/c 

[Being received application money @ ₹4 share] 

 

4,00,000 

 

4,00,000 

2. 

Preference Share Application A/C Dr. 

To Preference Share Capital A/c 

[Being application money transferred to share capital account] 

 

4,00,000 

 

4,00,000 

3. 

Preference Share Allotment A/c Dr. 

To Preference Share Capital A/c 

[Being allotment money due] 

 

3,00,000 

 

3,00,000 

4. 

Bank A/c Dr. 

To Preference Share Allotment A/c 

[Being allotment money received] 

 

3,00,000 

 

3,00,000 




5. 

Preference Share First Call A/c Dr. 

To Preference Share Capital A/c 

[Being First call money due] 

 

2,00,000 

 

2,00,000 

6. 

Bank A/c Dr. 

To Preference Share Capital A/c 

[Being First call money received] 

 

2,00,000 

 

2,00,000 

7. 

Preference Share Second & Final Call A/c Dr. 

To Preference Share Capital A/c 

[Being Second & Final Call money due] 

 

1,00,000 

 

1,00,000 

8. 

Bank A/c Dr. 

To Preference Share Second & Final Call A/c 

[Being Second & Final Call money received]  

 

1,00,000 

 

1,00,000 




For Explanation mail us we will connect you as soon as possible

Comments

Post a Comment

Popular posts from this blog

Sun and Moon are Partners in Partnership Firm sharing Profits and Losses equally. You are required to give effects of Adjustments with the help of following information

-
Trial Balance as on 31st March, 2019   Debit Balance   Amount   Credit Balance   Amount   Land & Building   40,000  Capital A/c Sun  33,500   Moon  33,500  Furniture  18,000  Current A/c: Sun   6,000  Machinery  40,000  Sundry Creditors  25,000  (Purchased on 01/07/18)    Bank Overdraft   10,000  Goodwill  2,000  Reserve Fund  5,000  Wages  2,000  Provident Fund  5,000  Current A/c: Moon  4,000      8% Debentures  8,000      (Purchased on (01/10/18)        Providend Fund Investment  3,500      Stock of Postal stamps  500        1,18,000     1,18,000               Adjustments:   1. Partners are entitled to get salary 6,000 p.a. in additional to their profit & loss sharing.   2. Depreciation on Land & Building, Furniture & Machinery @10%, 5% and 3% respectively.    3. Interest on Capital 5% p.a.     4. Closing stock 60,743   5. Wages included 1,000 as advance given to workers.   6. Interest due but not paid 800.   7. Total Net Profit amounted to 38,113.           Solutio
Read more

CLASS 11th BOOK KEEPING & ACCOUNTANCY

-
Class 11 Chapter 3 - Journal Entry Solution     Class 11 Chapter 4 - Ledger Accounts   Class 11 Chapter 5 - Subsidiary Book Solution   Class 11 Chapter 6 - Bank Reconciliation Statement     Class 11 Chapter 7 - Depreciation       Class 11 Chapter 8 - Rectification of Errors Solution in Accounting Journal Entry   Class 11 Chapter 9 - Final Account of Proprietary Concern         Maharashtra board Class 11th chapter 3 Journal Entry Solutions
Read more

Class 11th Chapter 4 Ledger Solutions | Class 11 Ledger Practical Problems Solutions

-
Image
PRACTICAL PROBLEMS   Q.1 Give Journal entries of the following posting from the ledger account.   Q.2 Prepare necessary ledger account from the following Subsidiary Books.   Q.3 From the following Transactions prepare necessary Ledger accounts in the Books of Vinay and balance the same. Q.4 Journalise the following transactions and prepare cash account only. Q.5 Prepare Aparna's account in the books of Suparna.   Q.6. Prepare Cash A/c, Bank A/c, Purchase A/c, sales A/c and Capital A/c, and balance the same in the books of Mandanlal.   Q.7. Journalise the following transactions; post them into Ledger for February 2019.   Q.8 Journalise the following transactions and prepare ledger accounts in the books of Sanjeev.   EXERCISE   Q.6 Complete the following table.     Image by- Edaccountancy   Q.7 Put ✔️ mark for the nature of balance for the following. Image by- Edaccountancy   The practical problems presented above aim to reinforce students' understanding of ledger accounts, subsi
Read more