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प्रश्न
Hema Ltd. invited applications for 10,000 shares of ₹ 100 each payable as follows:
₹ 20 on application, ₹ 30 on allotment, ₹ 20 on first call and the balance on final call.
All the shares were applied and allotted. All the money was duly received.
You are required to Journalise these transactions.
उत्तर
Issued and Subscribed Capital 10,000 shares of ₹ 100 each
Payable as:
| ₹ | 20 | on application |
| ₹ | 30 | on allotment |
| ₹ | 20 | on first call |
| ₹ | 30 | on final call |
| 100 |
Books of Hema Limited
Journal
|
Date |
Particulars |
L.F. |
Debit |
Credit |
||
|
|
Bank A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share Application A/c |
|
|
2,00,000 |
||
|
|
(Share application money received for 10,000 shares at ₹ 20 per share) |
|
|
|
||
|
|
Share Application A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
2,00,000 |
||
|
|
(Share application of 10,000 shares of ₹ 20 each transferred to Share Capital) |
|
|
|
||
|
|
Share Allotment A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
3,00,000 |
||
|
|
(Share allotment due on 10,000 shares at ₹ 30 per share) |
|
|
|
||
|
|
Bank A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Allotment A/c |
|
|
3,00000 |
||
|
|
(Share allotment money received for 10,000 Shares at ₹ 30 per share) |
|
|
|
||
|
|
Share First Call A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
2,00,000 |
||
|
|
(Share first call due on 10,000 shares at ₹ 20 per share) |
|
|
|
||
|
|
Bank A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share First call A/c |
|
|
2,00,000 |
||
|
|
(Share first call received on 10,000 shares at ₹ 20 per share) |
|
|
|
||
|
|
Share Final Call A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
3,00,000 |
||
|
|
(Share Final call due on 10,000 shares at ₹30 per shares) |
|
|
|
||
|
|
Bank A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Final Call A/c |
|
|
3,00,000 |
||
|
|
(Share final call received on 10,000 shares at ₹ 30 per share) |
|
|
|
||
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.
Arushi Computers Ltd. issued 10,000 equity shares of Rs. 100 each at 10% premium. The net amount payable as follows:
|
On application |
Rs. 20 |
|
On allotment |
Rs. 50 (Rs. 40 + premium Rs. 10) |
|
On first call |
Rs. 30 |
|
On final call |
Rs. 10 |
A shareholder holding 200 shares did not pay final call. His shares were forfeited. Out of these 150 shares were reissued to Ms. Sonia at Rs. 75 per share. Give journal entries in the books of the company.
Raunak Cotton Ltd. issued a prospectus inviting applications for 6,000 equity shares of Rs 100 each at a premium of Rs 20 per shares, payable as follows:
|
On application |
Rs 20 |
|
On allotment |
Rs 50 (including premium) |
|
On first call |
Rs 30 |
|
On final call |
Rs 20 |
Applications were received for 10,000 shares and allotment was made Pro-rata to the applicants of 8,000 shares, the remaining applications Being refused. Money received in excess on the application was adjusted toward the amount due on allotment. Rohit, to whom 300 shares were allotted failed to pay allotment and calls money, his shares were forfeited. Itika, who applied for 600 shares, failed to pay the two calls and her share were also forfeited. All these shares were sold to Kartika as fully paid for Rs 80 per shares.
Give journal entries in the books of the company.
Ajanta Company Limited having a normal capital of Rs 3,00,000, divided into shares of Rs 10 each offered for public subscription of 20,000 shares payable at Rs 2 on application; Rs 3 on allotment and the balance in two calls of Rs 2.50 each. Applications were received by the company for 24,000 shares. Applications for 20,000 shares were accepted in full and the shares allotted. Applications for the remaining shares were rejected and the application money was refunded. All moneys due were received with the exception of the final call on 600 shares which were forfeited after legal formalities were fulfilled. 400 shares of the forfeited shares were reissued at Rs 9 per share. Record necessary journal entries and prepare the balance Sheet showing the amount transferred to capital reserve and the balance in Share forfeiture account.
Gopal Ltd. was registered with an authorised capital of ₹ 50,00,000 divided into Equity Shares of ₹ 100 each . The company offered for public subscription all the shares . Public applied for 45,000 shares and allotment was made to all the applicants. All the calls were made and were duly received except the final call of ₹ 20 per share on 500 shares.
Prepare the Balance Sheet of the company showing the different types of share capital.
Himmat Ltd has authorised share capital of ₹ 50,00,000 divided into 5,00,000 Equity Shares of ₹ 10 each . It has existing issued and paid up capital of ₹ 5,00,000. It further issued to public 1,50,000 Equity Shares at par for subscription payable as under:
| On Application: | ₹ 3 |
| On Allotment: | ₹ 4 and |
| On Call: | Balance Amount. |
The issue was fully subscribed and allotment was made to all the applicants . Call was made during the year and was duly received.
Show share capital of the company in the Balance Sheet of the Company.
Star Ltd. is registered with capital of ₹ 50,00,000 divided into 50,000 equity shares of ₹ 100 each, The Company issued 25,000 equity shares for subscription. Subscription was received for 23,750 shares and all the due amount was duly received, except the first and final call of ₹ 20 per share on 600 shares. Show the 'Share Capital' in the Balance Sheet of the company.
Moneyplus company issued 2,50,000 Equity Shares of ₹ 10 each to public. All amounts have been received in lump sum.Pass necessary Journal entries in the books of the company.
Shiva Ltd . issued 1,00,000 Equity Shares of ₹ 10 each at a premium of ₹ 5 per share . The whole amount was payable on application. The issue was fully subscribed . Pass necessary Journal entries.
That part of capital which is uncalled capital of the company and can be called up only in the event of its winding up of a company is ________.
Which is the maximum amount of capital a company can issue ______.
Reserve capital is not a part of ______
The owners of the shares are called ______
When shares are allotted, which of the following account is credited?
Assertion (A): A share is a fractional part of the share capital and forms the basis of ownership interest in a company.
Reason (R): Shares refer to the units into which the total share capital of a company is divided.
Capital included in the liabilities of a company is called ______.
