Journal entry issue

Nasir (Student CA CPT ) (47 Points)

01 November 2013  

 

Hi all, 

I am showing below - 2 journal entries (from CPT Accounts book), and have a feeling that the second entry (marked in RED color) is WRONG....

Entry when the first call on shares becomes due: 

         Equity Share First Call A/c Dr.  

                     To Equity Capital A/c

Entry when the above amount is received :

         Bank A/c Dr.

                      To Equity Share Capital A/c

I feel the above entry should be:

         Bank A/c Dr.

                      To Equity Share First Call A/c 

 

Please tell me if what I have said is right or not!

Thanks :)

Nash.