Answer:
JOURNAL
Dr Cash Book Cr Date Particulars LF Amt (Dr) Amt (Cr) Share Application A/c Dr 2,32,500 To Share Capital A/c \[(46,500\times 5)\] 2,32,500 (Being application money received, transferred to capital account at the time of allotment) Share allotment A/c Dr 4,65,000 To Share Capital a/c \[(46,500\times 10)\] 4,65,000 (Being allotment money due) Share First and final Call A/c Dr 2,32,500 To Share Capital A/c \[(46,500\times 5)\] 2,32,500 (Being first and final call money due)
Note When cash book is maintained, journal entries related to receipt of application, allotment or calls are not passed. Rather, they are recorded in cash book. Particulars Amt (Rs.) Particulars Amt (Rs.) To Share Application A/c 2,32,500 By Balance c/d 9,30,000 To Share Allotment A/c 4,65,000 To Share First and Final Call A/c 2,32,500 9,30,000 9,30,000
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