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.
You are right.
The entry should be
Bank A/c Dr.
To Equity Share First Call A/c.
Yes, its just a printing mistake....
Your Entry is correct....
Bank A/c Dr.
To Equity Share First Call A/c
Thank you All :) !
Yes Agree with you . In ICAI Study materials there are some of the error which are correct by the Institute Time and Again in the Student's Journal . So refer that for all the changes updated by them.
yes bro you are right the entry is wrong may be a printing error
CAclubindia
