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Arnab company limited invited applications for the issue of 20000 equity shares of Rs. 10 each at a discount of 10% payable Rs. 4 on Application, Rs. 2 on Allotment and balance on First and Final call . All the shares offered were applied for and allotted . The first and final call was made and call money duly received .
Pass necessary journal entries in the books of the company.?
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Arnab company limited invited applications for the issue of 20000 equi...
Journal Entries for the Issue of Equity Shares
- When the shares are applied for:
- Bank A/c Dr. 80,000
- Share Application A/c Cr. 80,000
- When the shares are allotted:
- Share Application A/c Dr. 80,000
- Share Capital A/c Cr. 80,000
- When the first call is made:
- Share Capital A/c Dr. 1,20,000
- Call-in-Advance A/c Cr. 1,20,000
- When the first call is received:
- Call-in-Advance A/c Dr. 1,20,000
- Share Capital A/c Cr. 1,20,000
- When the final call is made:
- Share Capital A/c Dr. 1,20,000
- Call-in-Advance A/c Cr. 1,20,000
- When the final call is received:
- Call-in-Advance A/c Dr. 1,20,000
- Share Capital A/c Cr. 1,20,000
In this scenario, the journal entries reflect the entire process of issuing equity shares at a discount and collecting the necessary funds from the shareholders. It starts with the application for shares, followed by the allotment, and then the collection of the first and final call money. The entries ensure that the accounting records accurately reflect the financial transactions related to the issuance of equity shares.
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Arnab company limited invited applications for the issue of 20000 equity shares of Rs. 10 each at a discount of 10% payable Rs. 4 on Application, Rs. 2 on Allotment and balance on First and Final call . All the shares offered were applied for and allotted . The first and final call was made and call money duly received .Pass necessary journal entries in the books of the company.?
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Arnab company limited invited applications for the issue of 20000 equity shares of Rs. 10 each at a discount of 10% payable Rs. 4 on Application, Rs. 2 on Allotment and balance on First and Final call . All the shares offered were applied for and allotted . The first and final call was made and call money duly received .Pass necessary journal entries in the books of the company.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Arnab company limited invited applications for the issue of 20000 equity shares of Rs. 10 each at a discount of 10% payable Rs. 4 on Application, Rs. 2 on Allotment and balance on First and Final call . All the shares offered were applied for and allotted . The first and final call was made and call money duly received .Pass necessary journal entries in the books of the company.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Arnab company limited invited applications for the issue of 20000 equity shares of Rs. 10 each at a discount of 10% payable Rs. 4 on Application, Rs. 2 on Allotment and balance on First and Final call . All the shares offered were applied for and allotted . The first and final call was made and call money duly received .Pass necessary journal entries in the books of the company.?.
Solutions for Arnab company limited invited applications for the issue of 20000 equity shares of Rs. 10 each at a discount of 10% payable Rs. 4 on Application, Rs. 2 on Allotment and balance on First and Final call . All the shares offered were applied for and allotted . The first and final call was made and call money duly received .Pass necessary journal entries in the books of the company.? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
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