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प्रश्न
Anjali Flour Ltd. with a registered capital of ₹ 4,00,000 in equity shares of ₹ 10 each, issued 30,0 of such shares; payable ₹ 2 per share on the application, ₹ 5 per share on the allotment, and ₹ 3 shares on the first call. The issue was duly subscribed.
All the money payable was duly received but on the allotment, one shareholder paid the entire balance on his holding of 500 shares. Give journal entries to record the I transactions.
उत्तर
| Date | Particulars | L.F. | Debit Rs. | Credit Rs. |
| (1) | Bank A/c (30,000 × Rs. 2) Dr. To Equity share application A/c [Application money received] |
60,000 | 60,000 | |
| (2) | Equity share application A/c Dr. To Equity share capital A/c [Application money transferred] |
60,000 | 60,000 | |
| (3) | Equity Share Allotment A/c (30,000 × Rs. 5) Dr. To Equity share capital A/c [allotment money due] |
1,50,000 | 1,50,000 | |
| (4) | Bank A/c Dr. To Equity share allotment A/c To Calls in advance A/c (500 × Rs. 3) [Allotment money recd including call money on 500 shares] |
1,51,500 | 1,51,500 | |
| (5) | Equity share I and final call A/c (30,000 x Rs. 3) Dr. To Equity share capital A/c [I call money due] |
90,000 | 90,000 | |
| (6) | Bank A/c Dr. Calls in Advance A/c To Equity share I and final call A/c [Call money received] |
88,500 1,500 |
90,000 |
APPEARS IN
संबंधित प्रश्न
The amount received over and above the par value is credited to
What is meant by calls in arrear?
Write a short note on the securities premium account.
Why are the shares forfeited?
Write a brief note on calls in advance.
Arjun was holding 1,000 shares ₹ 10 each of Vanavill Electronics Ltd, issued at par. He paid ₹ 3 on the application, ₹ 4 on the allotment but could not pay the first and final call of ₹ 3. The directors forfeited the shares for nonpayment of call money. Give Journal entry for forfeiture of shares.
Lakshmi was holding 50 hares of ₹ 10 each on which he paid ₹ 2 on application but could not pay ₹ 4 on the allotment and ₹ 2 on first call. Directors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares.
Nivetha Ltd. forfeited 1,000 equity shares of ₹ 10 each for non-payament of call of ₹ 4 per share. Of these 800 shares were reissued @ ₹ 7 per share. Pass journal entries for forfeiture and reissue?
Simon Ltd issued 50,000 equity shares of ₹ 10 each at par payable on-application ₹ 1 per share, on allotment ₹ 5 per share, on first call ₹ 2 per share, and on second and final call ₹ 2 per share. The issue was fully subscribed and all the amounts were duly received with exception of 2,000 shares held by chezhian, who failed to pay the second and final call. His shares were forfeited and reissued to Elango at ₹ 8 per share. Journalise the above transactions?
Vairam Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as follows:
On application ₹ 6
On allotment ₹ 4 (including premium)
On the first and final call ₹ 2
The issue was fully subscribed and the amount due was received except Saritha to whom 1,000 shares were allotted who failed to pay the allotment money and first and final call money. Her shares were forfeited. All the forfeited shares were reissued to Parimala at ₹ 7 per share.
