21. Blue Chip Ltd. was registered on 1st January, 2011 with a capital of 10,00,000 divided into 1,00,000 shares
of 10 each. The company issued 42,000 shares of which 40,000 shares were taken up by the public and
1 per share was received with application. On 1st February, these shares were allotted and 2 per share
was duly received on 28th February as allotment money. A first call of 73 per share was made on 1st March
and the call money on all shares with the exception of 100 shares was received. The final call of 4 per share
was made on 1st June and the amount due, with the exception of 400 shares, was received by 30th June.
Pass necessary Journal and Cash Book entries and prepare the Balance Sheet as at 30th June, 2011.
of 10 each. The company issued 42,000 shares of which 40,000 shares were taken up by the public and
1 per share was received with application. On 1st February, these shares were allotted and 2 per share
was duly received on 28th February as allotment money. A first call of 73 per share was made on 1st March
and the call money on all shares with the exception of 100 shares was received. The final call of 4 per share
was made on 1st June and the amount due, with the exception of 400 shares, was received by 30th June.
Pass necessary Journal and Cash Book entries and prepare the Balance Sheet as at 30th June, 2011.
Answers & Comments
Answer:
Explanation:
CASH BOOK
To share application a/c 40000 By balance c/d 398100
To share allotment 80000
To share first call 119700
To share final call 158400
JOURNAL
Share application a/c 40000
To Share capital 40000
share allotment 80000
To share capital 80000
share on first call 120000
To share capital 120000
call in arrears 300
To share first call 300
share on final call 160000
To share capital 160000
Call in arrears 1600
To share final call 1600
Explanation:
balance sheet nahi bnai hai voh bna dena...