Advertisements
Advertisements
प्रश्न
Mohit Glass Ltd. issued 20,000 shares of Rs 100 each at Rs 110 per share, payable Rs 30 on application, Rs 40 on allotment (including Premium), Rs 20 on first call and Rs 20 on final call. The applications were received for 24,000 shares and allotted 20,000 shares and reject 4,000 shares and amount returned thereon. The money was duly received. Give journal entries.
उत्तर
Books of Mohit Glass Ltd.
Journal
| Date | Particulars | L.F | Debit Amount Rs | Credit Amount Rs |
| 1. |
Bank A/c ...Dr. |
7,20,000
|
|
|
|
To Share Application A/c |
|
7,20,000 |
||
|
(Application money received on an application for 24,000 shares @ Rs 30 per share) |
|
|
||
| 2. |
Share Application A/c ...Dr. |
7,20,000 |
||
|
To Share Capital A/c (Bank Column) |
|
6,00,000 |
||
|
To Bank A/c |
|
1,20,000 |
||
|
(Share Application of 20,000 shares @ Rs 30 transferred to Share Capital Account and the balance returned) |
|
|
||
|
Share Allotment A/c ...Dr. |
8,00,000 |
|||
|
To Share Capital A/c |
6,00,000 |
|||
|
To Share Premium A/c |
2,00,000 |
|||
|
(Allotment money due on 20,000 shares @ 40 per share including Rs 10 for premium) |
|
|
||
|
Bank A/c ...Dr. |
8,00,000 |
|||
|
To Share Allotment A/c |
|
8,00,000 | ||
|
(Allotment money received on 20,000 shares @ Rs 40 per share) |
|
|||
|
Share First Call A/c ...Dr. |
4,00,000 |
|||
|
To Share Capital A/c |
|
4,00,000 | ||
|
(Share First Call money due on 20,000 shares @ Rs 20 per share) |
|
|||
|
Bank A/c ...Dr. |
4,00,000 |
|
||
|
To Share First Call A/c |
|
4,00,000 |
||
|
(Share First Call money received on 20,000 shares @ Rs 20 per share) |
|
|
||
|
Share Final Call A/c ...Dr. |
4,00,000 |
|||
|
To Share Capital A/c |
|
4,00,000 | ||
|
(Share Final Call money due on 20,000 shares @ Rs 20 per share) |
|
|||
|
Bank A/c ....Dr. |
4,00,000 |
|||
|
To Share Final Call A/c |
|
4,00,000 |
||
|
(Share Final Call money received on 20,000 shares @ Rs 20 per share) |
|
|
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.
Eastern Company Limited, having an authorised capital of Rs 10,00,000 in shares of Rs 10 each, issued 50,000 shares at a premium of Rs 3 per share payable as follows :
|
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 |
Applications were received for 60,000 shares and the directors allotted the shares as follows :
(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.
Give journal and cash book entries to record these transactions of the company. Also prepare the Balance Sheet of the company.
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.
Arushi Computers Ltd. issued 10,000 equity shares of Rs. 100 each at 10% premium. The net amount payable as follows:
|
On application |
Rs. 20 |
|
On allotment |
Rs. 50 (Rs. 40 + premium Rs. 10) |
|
On first call |
Rs. 30 |
|
On final call |
Rs. 10 |
A shareholder holding 200 shares did not pay final call. His shares were forfeited. Out of these 150 shares were reissued to Ms. Sonia at Rs. 75 per share. Give journal entries in the books of the company.
Himalaya Company Limited issued for public subscription of 1,20,000 equity shares of Rs 10 each at a premium of Rs 2 per share payable as under :
|
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 |
Applications were received for 1,60,000 shares. Allotment was made on pro-rata basis. Excess money on application was adjusted against the amount due on allotment.
Rohan, whom 4,800 shares were allotted, failed to pay for the two calls. These shares were subsequently forfeited after the second call was made. All the shares forfeited were reissued to Teena as fully paid at Rs 7 per share.
Record journal entries in the books of the company to record these transactions relating to share capital. Also show the company’s balance sheet.
Gopal Ltd. was registered with an authorised capital of ₹ 50,00,000 divided into Equity Shares of ₹ 100 each . The company offered for public subscription all the shares . Public applied for 45,000 shares and allotment was made to all the applicants. All the calls were made and were duly received except the final call of ₹ 20 per share on 500 shares.
Prepare the Balance Sheet of the company showing the different types of share capital.
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.
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.
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.
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:
₹ 50 per share on application , ₹ 40 per share on allotment (including premium ), ₹ 30 per share on firs t call and balance on final call . Public applied for 14,000 shares. All the money was duly received .
Prepare an extract of Balance Sheet of Suhani Ltd . as per Schedule III , Part I of the companies Act, 2013 disclosing the above information . Also prepare 'Notes to Accounts ' for the same.
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 or acceptance of deposits from persons other than its members, directors or their relatives for ______.
Gama Chemicals Ltd. is a newly formed company. How much discount per share can it allow for issuing its shares to the public?
When shares are allotted, which of the following account is credited?
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 ______.
