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Question
Ghosh Ltd. made the second and final call on its 50,000 Equity Shares @ ₹ 2 per share on 1st January, 2016. The entire amount was received on 15th January, 2016 except on 100 shares allotted to Venkat. Pass necessary journal entries for the call money due and received by opening Calls-in-Arrears Account.
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Solution
Books of Ghosh Limited
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
2016 |
|
|
|
|
|
|
Jan. 01 |
Share Second and Final Call A/c |
Dr. |
|
1,00,000 |
|
|
|
To Equity Share Capital A/c |
|
|
1,00,000 |
|
|
|
(Share second and final call due on 50,000 shares at Rs 2 per share) |
|
|
|
|
|
|
|
|
|
|
|
|
Jan. 15 |
Bank A/c |
Dr. |
|
99,800 |
|
|
|
Calls-in-Arrears A/c |
Dr. |
|
200 |
|
|
|
To Share Second and Final Call A/c |
|
|
1,00,000 |
|
|
|
(Share second and final call received from 49,900 shares and 100 shares failed to pay the it) |
|
|
|
|
