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

 

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