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प्रश्न
Anish Limited issued 30,000 equity shares of Rs 100 each payable at Rs 30 on application, Rs 50 on allotment and Rs 20 on Ist and final call. All money was duly received. Record these transactions in the journal of the company.
उत्तर
| Date | Particulars | L.F. | Debit amount Rs | Credit amount Rs |
|
Bank A/c Dr To Equity Share Application A/c (Application money received on application for 30,000 equity shares @ Rs 30 per share) |
9,00,000
|
9,00,000
|
||
|
Equity Share Application A/c To Equity Share Capital A/c (Share Application money transferred to Share Capital Account) |
9,00,000
|
9,00,000
|
||
|
Equity Share Allotment A/c To Equity Share Capital A/c (Allotment money due on 30,000 @ Rs 50 per share) |
15,00,000
|
15,00,0000 | ||
|
Bank A/c To Equity Share Allotment A/c (Share Allotment money received for 30,000 shares @ Rs 50 per share) |
15,00,000
|
15,00,0000
|
||
|
Equity Share First and Final Call A/c To Equity Share Capital A/c (Share First and Final call due on 30,000 shares @ Rs 20 per share) |
6,00,000
|
6,00,000 | ||
|
Bank A/c To Equity Share First and Final Call A/c (Share First and Final Call money received for 30,000 shares @ Rs20 per share) |
6,00,000
|
6,00,000
|
APPEARS IN
संबंधित प्रश्न
Rupak Ltd. issued 10,000 shares of Rs 100 each payable Rs 20 per share on application, Rs 30 per share on allotment and balance in two calls of Rs 25 per share. The application and allotment money were duly received. On first call all member pays their dues except one member holding 200 shares, while another member holding 500 shares paid for the balance due in full. Final call was not made. Give journal entries and prepare cash book.
Eastern Company Limited, having an authorised capital of Rs 10,00,000 in shares of Rs 10 each, issued 50,000 shares at a premium of Rs 3 per share payable as follows :
|
On Application |
Rs 3 per share |
|
On Allotment (including premium) |
Rs 5 per share |
|
On first call (due three months after allotment) and the balance as and when required. |
Rs 3 per share |
Applications were received for 60,000 shares and the directors allotted the shares as follows :
(a) Applicants for 40,000 shares received shares, in full.
(b) Applicants for 15,000 shares received an allotment of 8,000 shares.
(c) Applicants for 500 shares received 200 shares on allotment, excess money being returned.
All amounts due on allotment were received.
The first call was duly made and the money was received with the exception of the call due on 100 shares.
Give journal and cash book entries to record these transactions of the company. Also prepare the Balance Sheet of the company.
Long Answer Question
State clearly the conditions under which a company can issue shares at a discount.
Kishna Ltd issued 15,000 shares of Rs 100 each at a premium of Rs 10 per share, payable as follows:
|
On application |
Rs 30 |
|
On allotment |
Rs 50 (including premium) |
|
On first and final call |
Rs 30 |
All the shares subscribed and the company received all the money due, With the exception of the allotment and call money on 150 shares. These shares were forfeited and reissued to Neha as fully paid share of Rs 12 each Give journal entries in the books of the company.
Prince Limited issued a prospectus inviting applications for 20,000 equity shares of Rs. 10 each at a premium of Rs. 3 per share payable as follows:
|
With Application |
Rs. 2 |
|
On Allotment (including premium) |
Rs. 5 |
|
On First Call |
Rs. 3 |
|
On Second Call |
Rs. 3 |
Applications were received for 30,000 shares and allotment was made on pro-rata basis. Money overpaid on applications was adjusted to the amount due on allotment.
Mr. Mohit whom 400 shares were allotted, failed to pay the allotment money and the first call, and his shares were forfeited after the first call. Mr. Joly, whom 600 shares were allotted, failed to pay for the two calls and hence, his shares were forfeited. Of the shares forfeited, 800 shares were reissued to Supriya as fully paid for Rs. 9 per share, the whole of Mr. Mohit’s shares being included.
Record journal entries in the books of the Company and prepare the Balance Sheet.
Amit holds 100 shares of Rs 10 each on which he has paid Re.1 per share as application money. Bimal holds 200 shares of Rs 10 each on which he has paid Re.1 and Rs 2 per share as application and allotment money, respectively. Chetan holds 300 shares of Rs 10 each and has paid Re.1 on application, Rs 2 on allotment and Rs 3 for the first call. They all fail to pay their arrears and the second call of Rs 2 per share and the directors, therefore, forfeited their shares. The shares are reissued subsequently for Rs 11 per share as fully paid. Journalise the transactions.
Journalise the following transactions in the books Bhushan Oil Ltd.:
(a) 200 shares of Rs. 100 each issued at a premium of Rs. 10 were forfeited for the non-payment of allotment money of Rs. 60 per share. The first and final call of Rs. 20 per share on these shares were not made. The forfeited shares were reissued at Rs. 70 per share as fully paid-up.
(b) 150 shares of Rs. 10 each issued at a premium of Rs. 4 per share payable with allotment were forfeited for non-payment of allotment money of Rs. 8 per share including premium. The first and final calls of Rs. 4 per share were not made. The forfeited shares were reissued at Rs. 15 per share fully paid-up.
(c) 400 shares of Rs. 50 each issued at par were forfeited for non-payment of final call of Rs. 10 per share. These shares were reissued at Rs. 45 per share fully paid-up.
Modern Marbles Ltd. was registered with an authorised capital of ₹10,00,000 divided into 7,500 Equity Shares of ₹ 100 each and, 2,500 Preference Shares of ₹100 each. 1,000 Equity Shares and 500; 9% Preference Shares were offered to public on the following terms – Equity Shares payable ₹10 on application, ₹40 on allotment and the balance in two calls of ₹ 25 each. Preference Shares are payable ₹ 25 on application, ₹ 25 on allotment and ₹50 on first and final call. All the shares were applied for and allotted . Amount due was duly received. Prepare Cash Book and pass necessary Journal entries to record the above issue of shares and show how the Share Capital will appear in the Balance Sheet.
Seema Ltd. offered for subscription 10,000 shares of ₹ 25 each, payable ₹ 5 per share on application, ₹ 10 per share on allotment (including ₹ 5 per share as premium), ₹ 5 per share as first call on the shares and the balance in two equal amounts at intervals of three months. All the shares were applied for and allotted. All the money was received except the second call and final call on 200 and 400 shares respectively. Pass the entries in the company's Journal, Cash Book and the ledger. Also show the company's Balance Sheet on completion of the above transactions.
Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives for ______.
Capital raised by issue of shares is called ______.
The owners of a company are called ______.
The owners of the shares are called ______
When shares are allotted, which of the following account is credited?
When full amount is due on any call but it is not received, then the short fall is debited to ______.
The difference between subscribed capital and called up capital is called ______.
Capital included in the liabilities of a company is called ______.
| Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5 : 3 : 2. Their fixed capitals are ₹ 1,80,000; ₹ 1,60,000 and ₹ 2,00,000 respectively. For the year ending 31st March, 2022, Nitya withdrew ₹ 7,500 at the end of every quarter. |
The partnership deed provided that interest on capital will be allowed @10% p.a. The amount of interest on Ishita's capital will be:
