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प्रश्न
(Full Subscription)
The HMT Ltd. issued 15,000 Equity shares of Rs 10 each, payable as under-
| On Application | Rs 3 | On Allotment | Rs 2 |
| On First Call | Rs 3 | On Final Call | Rs 2 |
All the shares were fully subscribed by the public. All the money due on installments were received.
Pass journal entries to record the above transactions in the books of the company.
उत्तर
Books of HMT Ltd.
Journal Entry
| Date | Particulars | L.F. | Debit Amount (Rs.) | Credit Amount (Rs.) |
|
Bank A/c Dr. |
45,000 | 45,000 | ||
| Equity Share Application A/c Dr. To Equity Share Capital A/c (Share application transferred to share capital) |
45,000 | 45,000 | ||
| Equity Share Allotment A/c Dr. To Equity Share Capital A/c (Share allotment due on 15,000 shares of Rs 2 each) |
30,000 | 30,000 | ||
|
Bank A/c Dr. |
30,000 | 30,000 | ||
|
Equity Share First Call A/c Dr |
45,000 | 45,000 | ||
| Bank A/c Dr. To Equity Share First Call A/c (Share first call received) |
45,000 | 45,000 | ||
| Equity Share Final Call A/c Dr. To Equity Share Capital A/c (Share final call due on 15,000 shares of Rs 2 each) |
30,000 | 30,000 | ||
| Bank A/c Dr. To Equity Share Final Call A/c (Share final call received) |
30,000 | 30,000 |
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संबंधित प्रश्न
From the following information, calculate the amount of income from subscriptions to be shown in the Income and Expenditure Account for the year ended 31-3-2011:
|
Subscriptions received during the year 2010-2011 |
Rs |
3,40,000 |
|
Subscriptions outstanding as on 31-3-2011 |
Rs |
47,000 |
|
Subscriptions received in advance as on 31-3-2011 |
Rs |
35,000 |
|
Subscriptions outstanding as on 1-4-2010 |
Rs |
28,000 |
|
Subscriptions received in advance as on 1-4-2010 |
Rs |
25,000 |
From the following ‘Receipt and Payments Account’ of ‘Green Delhi Club’ for the year ended
31-3-2011, prepare ‘Income and Expenditure Account’.
|
Receipts and Payments Account of 'Green Delhi Club' for the year ended 31-3-2011 |
||||||
|
Dr. |
|
Cr. |
||||
|
Receipts |
Amount Rs |
Payments |
Amount Rs |
|||
|
To Balance b/d |
13,200 |
By Salary (paid for 11 months) |
2,200 |
|||
|
To Subscriptions |
|
25,500 |
By Rent |
800 |
||
|
To Entrance Fee |
|
2,000 |
By Electricity |
3,500 |
||
|
To Donations (includes Rs 1,000 for Buildings) |
3,000 |
By Takes |
2,600 |
|||
|
To Hall Rent |
2,500 |
By Printing and Stationery |
800 |
|||
|
To Sale of Investments (Book value Rs 4,000) |
3,500 |
By Books |
10,000 |
|||
|
|
|
By 9% Fixed Deposits (on 31-1-2011) |
13,000 |
|||
|
|
|
By Balance c/d |
16,800 |
|||
|
|
49,700 |
|
49,700 |
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|
|
|
|
|
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From the following items of Receipts and Payments Account of Young Ladies Club, prepare an Income and Expenditure Account for the year ended 31-3-2010.
|
Particulars |
Amount Rs |
|
Salaries paid |
50,000 |
|
Lighting and Heating |
5,000 |
|
Printing and Stationery (Including Rs 500 for the previous year) |
3,500 |
|
Subscription received (Including Rs 2,000 received in advance |
40,000 |
|
and Rs 5,000 for the previous year) |
|
|
Net proceeds of Refreshment Room |
45,000 |
|
Miscellaneous Expenses |
16,000 |
|
Interest paid on Loan of half year |
1,200 |
|
Rent and Rates (Including Rs 1,000 prepaid) |
7,500 |
|
Locker rent received |
4,500 |
Additional Information:
Subscriptions in arrears on 31-3-2010 were Rs 8,000 and half year’s interest on loan was also outstanding.
On 1.1.2007 a Public Limited Company issued 15,000, 10% Debentures of Rs 100 each at par which were repayable at a premium of 15% on 31.12.2011. On the date of maturity, the company decided to redeem the above mentioned 10% Debentures as per the terms of issue, out of profits. The Profit and Loss A/c shows a credit balance of Rs 20,00,000 on this date. The offer was accepted by all the Debentures holders and all the Debentures were redeemed.
Pass the necessary journal entries in the books of the Company only for the redemption of Debentures, if the Company follows
Sec.117 C of the Companies Act.
Dinesh Ltd. invited application for issuing 10,000 Equity shares of Rs 10 each. The amount was payable as follows:
On Application Rs 1
On Allotment Rs 2
On First call Rs 3
On Second and Final Call − Balance
The issue was fully subscribed. Ram to whom 100 shares were allotted, failed to pay the allotment money and his shares were forfeited immediately after allotment. Shyam to whom 150 shares were allotted failed to pay the first call. His share were also forfeited after the first call. Afterwards the second and final call was made. Mohan to whom 50 shares were allotted failed to pay the second and final call. His shares were also forfeited. All the forfeited shares were re-issued at Rs 9 per share fully paid up. Pass necessary Journal entries in the books of Dinesh Ltd.
Moti Ltd. invited application for issuing 10,00,000 Equity shares of Rs 10 each at a premium of Rs 2 per share. The amount was payable as follows:
On Application Rs 5 (Including premium)
On Allotment Rs 4
On First and Final Call Rs 3
Application for 15,00,000 share were received. Application for 3,00,000 shares were rejected and pro-rata allotment was made to the remaining applicants. Excess application money was utilized towards sums due on allotment. Giri who had applied for 24,000 shares failed to pay the allotment and call money. His shares were forfeited. Out of the forfeited shares 10,000 shares were reissued for Rs 8 per share fully paid up. Pass necessary journal entries in the books of Moti Ltd.
From the following information, calculate the amount of subscription due to be shown in the
‘Income and Expenditure Account’ for the year ended 31.3.2011 if there are 1000 members and each paying Rs 300 p.a. as subscription.
Subscription received during the year 2010 − 2011: Rs 3,00,000.
Subscription received in advance as on 31.3.2011: Rs 36,800.
Subscription outstanding as on 1.4.2010: Rs 32,000.
Subscription received in advance as on 1.4.2010: Rs 25,000
State, whether the following statements is True or False.
In public issue whole amount of share capital is called at once.
Altaur Ltd. was registered with an authorised Capital of ₹ 4,00,00,000 divided in 25,00,000 Equity Shares of ₹ 10 each and 1,50,000, 9% Preference Shares of ₹ 100 each. The company issued 8,00,000 Equity Shares for public subscription at 20% premium, payable ₹ 3 on the application; ₹ 7 on the allotment (including premium) and balance on a call. The public had applied for 10,00,000 shares. Excess Applications were sent letters of regret.
All the dues on allotment received except on 15,000 shares held by Sanju. Another shareholder Rocky paid his call dues along with allotment on his holding of 25,000 shares. You are required to prepare the Balance Sheet of the company as per Schedule III of Companies Act, 2013, showing Share Capital balance and also prepare Notes to Accounts.
OTUA Ltd. was registered with an authorised capital of 2,00,000 equity shares of ₹ 100 each. The company offered 60,000 shares for public subscription at 25% premium. The share was payable as ₹ 40 on application and balance on allotment, with premium. Public had applied for 85,000 shares. Pro-rata allotment was made in the ratio of 5:4 and remaining applications were sent letters of regret.
Mr. Anand holding 4,000 shares failed to pay allotment money and his shares were forfeited. Out of these 3,000 shares were re-issued at a discount of ₹ 20 per share. Pass necessary entries in the books of OTUA Ltd.
