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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.
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%.
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.
Amisha Ltd inviting application for 40,000 shares of Rs 100 each at a premium of Rs 20 per share payable; on application Rs 40 ; on allotment Rs 40 (Including premium): on first call Rs 25 and Second and final call Rs 15. Application were received for 50,000 shares and allotment was made on pro-rata basis. Excess money on application was adjusted on sums due on allotment. Rohit to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited after allotment. Ashmita, who applied for 1,000 shares failed to pay the Two calls and his shares were forfeited after the second call. Of the shares forfeited, 1,200 shares were sold to Kapil for Rs 85 per share as fully paid, the whole of Rohit’s shares being included. Record necessary journal entries.
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.
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.
The authorised capital of ₹ 16,00,000 of Bharat Ltd. is divide into 1,60,000 Equity Shares of ₹ 10 each. Out of these shares, 80,000 Equity Shares were issued at par to public for subscription. The full nominal value is payable on application. All the shares were subscribed by the public and total amount was paid for. Pass necessary journal entries in the books of the company.
Marigold Ltd . was registered with the authorized capital of ₹ 3,00,000 divided into 3,000 shares of ₹ 100 each, which were offered to the public . Amount payable as ₹ 30 per share on application , ₹ 40 per share on allotment and ₹ 30 per share on first and final call . These shares were fully subscribed and all money was dully received . Prepare journal and Cash Book.
Modern Marbles Ltd. was registered with an authorised capital of ₹10,00,000 divided into 7,500 Equity Shares of ₹ 100 each and, 2,500 Preference Shares of ₹100 each. 1,000 Equity Shares and 500; 9% Preference Shares were offered to public on the following terms – Equity Shares payable ₹10 on application, ₹40 on allotment and the balance in two calls of ₹ 25 each. Preference Shares are payable ₹ 25 on application, ₹ 25 on allotment and ₹50 on first and final call. All the shares were applied for and allotted . Amount due was duly received. Prepare Cash Book and pass necessary Journal entries to record the above issue of shares and show how the Share Capital will appear in the Balance Sheet.
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