aradhana ltd. issued 50000 equity shares of rs.10 each payable rs.4 on application and allotement , rs.3 on first call and rs.3 on second and final call
all the shares were subscibed for by the public and dult alloted .
when the first call was made , one shareholder holding 250 shares failed to pay the call money whereas , another shareholder holding 1200 shares paid the entire balance along with the first call . journalise as the company maintains call in arreas and call in advance
Share first call a/c Dr. 1,50,000
To Share Capital a/c 1,50,000
(Being first call money due)
Bank a/c (1,50,000-250*3+1,200*3) Dr. 1,52,850
Calls in arrears a/c (250*3) Dr. 750
To Share fist call a/c 1,50,000
To Calls in advance a/c(1,200*3) 3,600
(Being first call money received except
for 250 shares and for 1200 in advance)
To Share Capital a/c 1,50,000
(Being first call money due)
Bank a/c (1,50,000-250*3+1,200*3) Dr. 1,52,850
Calls in arrears a/c (250*3) Dr. 750
To Share fist call a/c 1,50,000
To Calls in advance a/c(1,200*3) 3,600
(Being first call money received except
for 250 shares and for 1200 in advance)