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Question
Under which major head will the following be shown:
(i) Share Capital; and (ii) Money Received Against Share Warrants?
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Solution
| Items | Major Head |
| Share Capital | Shareholder’s Funds |
| Money received against share warrants | Shareholder’s Funds |
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||
| 1 |
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||
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| To Interest on Capital | By Profit & loss account (After manager’s commission) | ___(2)___ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary A/c | 12,500 | ||
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| ______ | ______ |
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| To Interest on Capital | By Profit & loss account (After manager’s commission) | __(2)__ | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | __(1)__ | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
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