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प्रश्न
(Issue at premium and calls in arrears)
Hindusthan Petroleum Ltd., invited application for 40,000 Equity shares of Rs 100 each payable as under including 20% premium:
| On Application | Rs 30 | On Allotment | Rs 40 (including premium) |
| On First Call | Rs 20 | On Final Call | Rs 30 |
All the shares were applied for and also allotted. One share holder who was allotted 500 shares failed to pay first and final call.
Record the above transactions in the journal of the company.
उत्तर
Books of Hindusthan Petroleum Ltd.
Journal Entry
| Date | Particulars | L.F. | Debit Amount (Rs.) | Credit Amount (Rs.) |
| Bank A/c Dr. To Equity Share Application A/c (Share application received on 40,000 shares of Rs.30 each) |
12,00,000 | 12,00,000 | ||
| Equity Share Application A/c Dr. To Equity Share Capital A/c (Share application transferred to share allotment) |
12,00,000 | 12,00,000 | ||
| Equity Share Allotment A/c Dr. To Equity Share Capital A/c To Securities Premium A/c [Share allotment due on 40,000 shares of Rs 40 each (including Premium of 20%)] |
16,00,000 | 8,00,000 8,00,000 |
||
| Bank A/c Dr. To Equity Share Allotment (Share application received) |
16,00,000 | 16,00,000 | ||
|
Equity Share First Call A/c Dr. |
8,00,000 | 8,00,000 | ||
| Bank A/c Dr. Calls-in-Arrears A/c Dr. To Equity Share First Call A/c (Share first call received on 39,500 shares of Rs 20 each) |
790,000 10,000 |
800,000 | ||
|
Equity Share Final Call A/c Dr. |
12,00,000 | 12,00,000 | ||
| Bank A/c Dr. Calls-in-Arrears To Equity Share Final Call A/c (Share first call received on 39,500 shares of Rs 30 each) |
11,85,000 15,000 |
12,00,000 |
Working Notes:
Calls-in-Arrears on First Call = 500 x 20 = Rs. 10,000
Calls-in-Arrears on Final Call = 500 x 30 = Rs. 15,000
APPEARS IN
संबंधित प्रश्न
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What is meant by share premium?
Answer in one Sentence only :
What is meant by discount on issue of shares?
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Issue of share above face value.
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