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प्रश्न
Journalise the following transactions in the books Bhushan Oil Ltd.:
(a) 200 shares of Rs. 100 each issued at a premium of Rs. 10 were forfeited for the non-payment of allotment money of Rs. 60 per share. The first and final call of Rs. 20 per share on these shares were not made. The forfeited shares were reissued at Rs. 70 per share as fully paid-up.
(b) 150 shares of Rs. 10 each issued at a premium of Rs. 4 per share payable with allotment were forfeited for non-payment of allotment money of Rs. 8 per share including premium. The first and final calls of Rs. 4 per share were not made. The forfeited shares were reissued at Rs. 15 per share fully paid-up.
(c) 400 shares of Rs. 50 each issued at par were forfeited for non-payment of final call of Rs. 10 per share. These shares were reissued at Rs. 45 per share fully paid-up.
उत्तर
Case (a)
Books of Bhushan Oil Ltd.
|
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
||||
|
|
Share Capital A/c (200 ×80) |
Dr. |
|
16,000 |
|
|||
| Securities Premium A/c (200 × 10) | Dr. | 2,000 | ||||||
|
|
|
To Share Allotment A/c (200 × 60) |
|
|
|
12,000 |
||
|
|
|
To Share Forfeiture A/c (200 ×30) |
|
|
6,000 |
|||
|
|
(200 shares forfeited @ ₹100 each issued at a premium of ₹10 for the nonpayment of allotment money ₹60 per share) |
|
|
|
||||
|
|
Bank A/c (200x 70) |
Dr. |
|
14,000 |
|
|||
|
|
Share Forfeiture A/c (200 ×30) |
Dr. |
|
6,000 |
|
|||
|
|
|
To Share Capital A/c (200 × 100) |
|
|
20,000 |
|||
|
|
(200 shares reissued @ ₹70 per share fully paid-up) |
|
|
|
||||
Case (b)
|
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
|||
|
|
Share Capital A/c |
Dr. |
|
900 |
|
||
|
|
Securities Premium A/c |
Dr. |
|
600 |
|
||
|
|
|
To Share Allotment A/c |
|
|
1,200 |
||
|
|
|
To Share Forfeiture A/c |
|
|
300 |
||
|
|
(150 shares @ ₹10 each forfeited for nonpayment of allotment money Rs 8 per share including premium ₹4) |
|
|
|
|||
|
|
Bank A/c |
Dr. |
|
2,250 |
|
||
|
|
|
To Share Capital A/c |
|
|
1,500 |
||
|
|
|
To Securities Premium A/c |
|
|
750 |
||
|
|
(150 shares @ ₹10 each reissued For ₹15 per share fully paid-up) |
|
|
|
|||
|
|
Share Forfeiture A/c |
Dr. |
|
300 |
|
||
|
|
|
To Capital Reserve A/c |
|
|
300 |
||
|
|
(Balance of Share Forfeiture Account transferred to Capital Reserve Account) |
||||||
Case (c)
|
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
||
|
|
Share Capital A/c |
Dr. |
|
20,000 |
|
|
|
|
|
To Share Final Call A/c |
|
|
4,000 |
|
|
|
|
To Share Forfeiture A/c |
|
|
16,000 |
|
|
|
(400 shares @ ₹ 50 per share forfeited for nonpayment of Final Call Rs 10 per share) |
|
|
|
||
|
|
Bank A/c |
Dr. |
|
18,000 |
|
|
|
|
Share forfeiture A/c |
Dr. |
|
2,000 |
|
|
|
|
|
To Share Capital A/c |
|
|
|
20,000 |
|
|
(400 shares @ ₹50 each reissued for ₹45 fully paid-up) |
|
|
|
|
|
|
|
Share Forfeiture A/c |
Dr. |
|
14,000 |
|
|
|
|
|
To Capital Reserve A/c |
|
|
14,000 |
|
|
|
(Balance in Share Forfeiture Account transferred to Capital Reserve Account) |
|
|
|
||
APPEARS IN
संबंधित प्रश्न
Anish Limited issued 30,000 equity shares of Rs 100 each payable at Rs 30 on application, Rs 50 on allotment and Rs 20 on Ist and final call. All money was duly received. Record these transactions in the journal of the company.
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|
On Application |
Rs 3 per share |
|
On Allotment (including premium) |
Rs 5 per share |
|
On first call (due three months after allotment) and the balance as and when required. |
Rs 3 per share |
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(a) Applicants for 40,000 shares received shares, in full.
(b) Applicants for 15,000 shares received an allotment of 8,000 shares.
(c) Applicants for 500 shares received 200 shares on allotment, excess money being returned.
All amounts due on allotment were received.
The first call was duly made and the money was received with the exception of the call due on 100 shares.
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|
On application |
Rs 30 |
|
On allotment |
Rs 50 (including premium) |
|
On first and final call |
Rs 30 |
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|
On application |
Rs. 20 |
|
On allotment |
Rs. 50 (Rs. 40 + premium Rs. 10) |
|
On first call |
Rs. 30 |
|
On final call |
Rs. 10 |
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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.
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|
With Application |
Rs 3 per share |
|
On allotment (including premium) |
Rs 5 per share |
|
On First call |
Rs 2 per share |
|
On Second and Final call |
Rs 2 per share |
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Record journal entries in the books of the company to record these transactions relating to share capital. Also show the company’s balance sheet.
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|
With Application |
Rs. 2 |
|
On Allotment (including premium) |
Rs. 5 |
|
On First Call |
Rs. 3 |
|
On Second Call |
Rs. 3 |
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Record journal entries in the books of the Company and prepare the Balance Sheet.
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|
Payable on application |
Rs 5 per share |
|
Payable on allotment |
Rs 3 per share |
|
Payable on first and final call |
Rs 2 per share |
Applications for 5,00,000 shares were received. It was decided :
(a) to refuse allotment to the applicants for 20,000 shares;
(b) to allot in full to applicants for 80,000 shares;
(c) to allot the balance of the available shares’ pro-rata among the other applicants; and
(d) to utilise excess application money in part as payment of allotment money.
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Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives for ______.
Capital raised by issue of shares is called ______.
The owners of a company are called ______.
Gama Chemicals Ltd. is a newly formed company. How much discount per share can it allow for issuing its shares to the public?
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 ______.
