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प्रश्न
Sampath company issued 25,000 shares at ₹ 10 per share payable ₹ 3 on the application, ₹ 4 on allotment; ₹ 3 on first and final call. The public subscribed for 24,000 shares. The directors allotted all the 24,000 shares and received the money duly. Pass necessary journal entries.
उत्तर
| Date | Particulars | L.F. | Debit | Credit |
| 1. | Bank A/c (24,000 x Rs. 3) Dr. To Share Application A/c [Application money received] |
72,000 | 72,000 | |
| 2. | Share Application A/c Dr. To Share capital A/c [Application money transferred] |
72,000 | 72,000 | |
| 3. | Share Allotment A/c (24,000 x Rs. 4) Dr. To share capital A/c [Allotment money duel |
96,000 | 96,000 | |
| 4. | Bank A/c Dr. To Share Allotment A/c [share allotment money received] |
96,000 | 96,000 | |
| 5. | Share 1 & final call A/c (24,000 x Rs.3) Dr. To Share Capital A/c [call money due] |
72,000 | 72,000 | |
| 6. | Bank A/c Dr. To share I & final call A/c [call money received] |
72,000 | 72,000 |
APPEARS IN
संबंधित प्रश्न
The amount received over and above the par value is credited to
Which of the following statement is false?
What is Over-Subscription?
Write a short note on the securities premium account.
Write a brief note on calls in advance.
What is a reissue of forfeited shares?
Lalitha Ltd. offered 30,000 equity shares ₹10 each to the public payable ₹ 2 per share on the application, ₹ 3 on share allotment, and the balance when required. Applications for 50,0 shares were received on which directors allotted as:
Applicants for 10,000 shares Full
Applicants for 35,000 shares 20,000 shares (excess money will be utilized for allotment
Applicants for 5,000 shares Nil
All the money due was received. Pass journal entries upto the receipt of allotment.
Anjali Flour Ltd. with a registered capital of ₹ 4,00,000 in equity shares of ₹ 10 each, issued 30,0 of such shares; payable ₹ 2 per share on the application, ₹ 5 per share on the allotment, and ₹ 3 shares on the first call. The issue was duly subscribed.
All the money payable was duly received but on the allotment, one shareholder paid the entire balance on his holding of 500 shares. Give journal entries to record the I transactions.
Lakshmi was holding 50 hares of ₹ 10 each on which he paid ₹ 2 on application but could not pay ₹ 4 on the allotment and ₹ 2 on first call. Directors forfeited the shares after the first call. Give journal entry for recording the forfeiture of shares.
Vairam Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as follows:
On application ₹ 6
On allotment ₹ 4 (including premium)
On the first and final call ₹ 2
The issue was fully subscribed and the amount due was received except Saritha to whom 1,000 shares were allotted who failed to pay the allotment money and first and final call money. Her shares were forfeited. All the forfeited shares were reissued to Parimala at ₹ 7 per share.
