[NCERT] Q 4 Accounting for Share Capital Solutions Class 12 (2022-23)

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Solutions of Question number 4 Accounting for Share Capital NCERT Accountancy solutions Class 12 CBSE Board 2022-23 Session?

Rupak Ltd. issued 10,000 shares of ₹ 100 each payable ₹ 20 per share on application, ₹ 30 per share on allotment and balance in two calls of ₹ 25 per share. The application and allotement money were duly received. On first call, all members paid their dues except one member holding 200 shares, while another member holding 500 shares paid for the balance due in full. Final call was not made.

Give Journal entries and prepare cash book.

Solution:-

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