12th Class
Accountancy
Sample Paper
Accountancy - Sample Paper-14
question_answer
On 28th February, 2017 the first call of Rs. 2 per share became due on 25,000 equity shares alloted by XYZ Ltd. P, a holder of 500 shares did not pay the first call money. Q, a holder of 375 shares paid the second and final call of Rs. 4 per share along with the first call. Pass the necessary journal entry for the amount received by opening calls-in-arrears and calls-in-advance account in the books of the company.