Journal entry issue

 

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.

Replies (9)

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

 

 

Ya...u r crct....jst printing mistake
Yes every one is correct

Thank you All :) !

You are correct.It should be call and not capital.
You are correct.it should be call not not sharecapital.

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

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details