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प्रश्न
Citizen Watches Ltd. invited applications for 50,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 4 on allotment, and balance on first and final call. Applications were received for 60,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected. All calls were made and received except First and Final call on 500 shares . Pass the journal entries in the books of Citizen Watches Ltd.
उत्तर
| Journal Entries | |||||
|
Date |
Particulars |
L.F. |
Debit |
Credit |
|
|
|
Bank A/c (60,000 × 3) |
Dr. |
|
1,80,000 |
|
|
|
To Share Application A/c |
|
|
|
1,80,000 |
|
|
(Received application money on 60,000 shares) |
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|||
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|
Share Application A/c |
Dr. |
|
1,80,000 |
|
|
|
To Share Capital A/c (50,000 × 3) |
|
|
|
1,50,000 |
|
|
To Bank A/c (10,000 × 3) |
|
|
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30,000 |
|
|
(Transfer of application money to Share Capital) |
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Share Allotment A/c (50,000 × 4) |
Dr. |
|
2,00,000 |
|
|
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To Share Capital A/c |
|
|
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2,00,000 |
|
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(Allotment due on 50,000 shares) |
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Bank A/c |
Dr. |
|
2,00,000 |
|
|
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To Share Allotment A/c |
|
|
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2,00,000 |
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(Allotment received) |
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Share First and Final Call A/c |
Dr. |
|
1,50,000 |
|
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To Share Capital A/c |
|
|
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1,50,000 |
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(Call money due on 50,000 shares) |
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Bank A/c (49,500 ×3) |
Dr. |
|
1,48,500 |
|
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To Share First and Final Call A/c |
|
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1,48,500 |
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(Received call money on 49,500 shares) |
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