What will be the journal entries when a call is due and the amount of the same is received?

easyMCQCUET Accountancy 2025 3 June Shift 22026Accountancy

1 mark

What will be the journal entries when a call is due and the amount of the same is received?

A $1. For Call Amount Due: Share Call A/c Dr. To Share Call A/c; 2. For Receipt: Bank A/c Dr. To Share Capital A/c$
B $1. For Call Amount Due: Share Call A/c Dr. To Share Capital A/c; 2. For Receipt of Call Amount: Bank A/c Dr. To Share Call A/c$
C $1. For Call Amount Due: Bank A/c Dr. To Share Capital A/c; 2. For Receipt: Share Call A/c Dr. To Share Call A/c$
D $1. For Call Amount Due: Share Capital A/c Dr. To Share Call A/c; 2. For Receipt: Bank A/c Dr. To Share Call A/c$

Solution & Step-by-step Explanation

The standard accounting entry sequence for share calls is:Making the call due: Share Call A/c Dr. To Share Capital A/c Receiving the call money: Bank A/c Dr. To Share Call A/c Hence, Option B is correct.

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What will be the journal entries when a call is due and the amount of the same is received?

1. For Call Amount Due: Share Call A/c Dr. To Share Call A/c; 2. For Receipt: Bank A/c Dr. To Share Capital A/c

1. For Call Amount Due: Share Call A/c Dr. To Share Capital A/c; 2. For Receipt of Call Amount: Bank A/c Dr. To Share Call A/c

1. For Call Amount Due: Bank A/c Dr. To Share Capital A/c; 2. For Receipt: Share Call A/c Dr. To Share Call A/c

1. For Call Amount Due: Share Capital A/c Dr. To Share Call A/c; 2. For Receipt: Bank A/c Dr. To Share Call A/c

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