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प्रश्न
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.
उत्तर
Books of Krishna Ltd
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
||
|
|
Bank A/c |
Dr. |
|
4,50,000 |
|
|
|
|
|
To Share Application A/c |
|
|
|
4,50,000 |
|
|
(Share Application money received for 15,000 shares @ Rs 30 per share) |
|
|
|
||
|
|
Share Application A/c |
Dr. |
|
4,50,000 |
|
|
|
|
|
To Share Capital A/c |
|
|
|
4,50,000 |
|
|
(Share Application money of 15,000 shares transferred to Share Capital Account) |
|
|
|
||
|
|
Share Allotment A/c |
Dr. |
|
7,50,000 |
|
|
|
|
|
To Share Capital A/c |
|
|
6,00,000 |
|
|
|
|
To Securities Premium A/c |
|
|
1,50,000 |
|
|
|
(Share Allotment money on 15,000 shares @ Rs 50 per share including Rs 10 securities premium due) |
|
|
|
||
|
|
Bank A/c |
Dr. |
|
7,42,500 |
|
|
|
|
|
To Share Allotment A/c |
|
|
|
7,42,500 |
|
|
(Share Allotment received on 14,850 shares and 150 shares failed to pay the money due) |
|
|
|
||
|
|
Share First and Final Call A/c |
Dr. |
|
4,50,000 |
|
|
|
|
|
To Share Capital A/c |
|
|
|
4,50,000 |
|
|
(Share First and Final Call for 15,000 shares @ Rs 30 per share due) |
|
|
|
||
|
|
Bank A/c |
Dr. |
|
4,45,500 |
|
|
|
|
|
To Share First and Final Call A/c |
|
|
4,45,500 |
|
|
|
(Share First and Final Call received for 14,850 shares @ Rs 30 per share and 150 shares failed to pay amount due) |
|
|
|
||
|
|
Share Capital A/c (150×100) |
Dr. |
|
15,000 |
|
|
|
|
Share Premium A/c (150×10) |
Dr. |
|
1,500 |
|
|
|
|
|
To Share Allotment A/c (150×50) |
|
|
7,500 |
|
|
|
|
To Share First and Final Call A/c (150×30) |
|
|
4,500 |
|
|
|
|
To Share Forfeiture A/c (150×30) |
|
|
4,500 |
|
|
|
(150 shares forfeited for non-payment of Share Allotment and Share First and Final Call ) |
|
|
|
||
|
|
Bank A/c |
Dr. |
|
18,000 |
|
|
|
|
|
To Share Capital A/c |
|
|
|
15,000 |
|
|
|
To Securities Premium A/c |
|
|
|
3,000 |
|
|
(150 shares of Rs 100 each reissued @ Rs 120 to Neha) |
|
|
|
|
|
|
|
Share Forfeiture A/c |
Dr. |
|
4,500 |
|
|
|
|
|
To Capital Reserve A/c |
|
|
|
4,500 |
|
|
(Balance of Share Forfeiture Account transferred to Capital Reserve Account) |
|
||||
Note: In the solution, the reissued price of Rs 12 has been assumed as Rs 120 per share
APPEARS IN
संबंधित प्रश्न
Kumar Ltd. purchased assets of Rs. 6,30,000 from Bhanu Oil Ltd. Kumar Ltd. issued equity share of Rs. 100 each fully paid in consideration. What journal entries will be made, if the shares are issued, (a) at par, and (b) at premium of 20%.
Long Answer Question
State clearly the conditions under which a company can issue shares at a discount.
Ashoka Limited Company which had issued equity shares of Rs.20 each at a premium of Rs. 4 per share, forfeited 1,000 shares for non-payment of final call of Rs.2 per share. 400 of the forfeited shares were reissued at Rs.14 per share out of the remaining shares of 200 shares reissued at Rs.20 per share. Give journal entries for the forfeiture and reissue of shares and show the amount transferred to capital reserve and the balance in Share Forfeiture Account.
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.
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| On Application: | ₹ 3 |
| On Allotment: | ₹ 4 and |
| On Call: | Balance Amount. |
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Authorized capital of Suhani Ltd . is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each . Out of these company issued 15,000 shares of ₹ 150 each at a premium of ₹ 10 per share . the amount was payable as follows:
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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 ________.
Prohibits any invitation to public to subscribe for shares and Debentures for ______.
Capital raised by issue of shares is called ______.
Reserve capital is not a part of ______
The owners of the shares are called ______
When full amount is due on any call but it is not received, then the short fall is debited to ______.
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:
