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प्रश्न
The Adersh Control Device Ltd was registered with the authorised capital of Rs 3,00,000 divided into 30,000 shares of Rs 10 each, which were offered to the public. Amount payable as Rs 3 per share on application, Rs 4 per share on allotment and Rs 3 per share on first and final call. These share were fully subscribed and all money was dully received. Prepare journal and Cash Book.
उत्तर
Books of Adersh Control Device Ltd
Journal
| Date | Particulars | L.F |
Debit Amount Rs |
Credit Amount Rs |
|
Equity Share Application A/c To Equity Share Capital A/c (Share Application money for 30,000 shares @ Rs 3 per share transferred to Share Capital Account
|
90,000
|
90,000
|
||
|
Equity Share Allotment A/c To Equity Share Capital A/c (Share Allotment money due on 30,000 @ Rs 4 per share) |
1,20,000
|
1.20,000
|
||
|
Equity Share First and Final Call A/c To Equity Share Capital A/c (Share First and Final Call due on 30,000 @ Rs 3 per share) |
90,000
|
90,000
|
Cash book ( Blank coloum)
| Date | Particulars | J.f | Amount Rs | Date | Particulars | J.F | Amount Rs |
|
Equity Share Application Equity Share Allotment Equity Share First and Final call |
90,000
1,20,000
90,000
|
By Balance c/d | 3,00,000 | ||||
|
|
3,00,000 |
3,00,000 |
APPEARS IN
संबंधित प्रश्न
Preference shares carry dividend at .......................... rate.
- Fixed
- Fluctuating
- Lower
Pass necessary journal entries in the following cases
Kay Ltd. converted 3,000, 12% debentures of Rs 100 each issued at a premium of 10% into equity shares of Rs 100 each issued at a premium of 25%.
What is meant by a 'Share' ? Give any two differences between 'Preference Shares' and 'Equity Shares'.
The shares which are issued to existing equty shareholders as a gift
Draft a letter of allotment of shares to the applicant.
Shares which are redeemed after a certain period of time.
State, with reason, whether the following statement is True or False.
Preference shareholders do not enjoy normal voting rights.
Write notes on Features of equity shares.
State, with reasons, whether the following statement is True or False :
Right shares are issued to the general public.
Write a letter to the debenture holder informing him/her about the conversion of debentures into equity shares.
Write features of shares.
Write a word or term or phrase which can substitute each of the following statements:
The use of borrowed capital for financing a business firm.
Write a word or term or phrase which can substitute each of the following statements:
Type of preference shares which can be redeemed after a certain period of time.
What is equity share? Explain the feature of equity shares.
Long Answer Question
What is a ‘Preference Share’? Describe the different types of preference shares.
A limited company offered for subscription of 1,00,000 equity shares of Rs 10 each at a premium of Rs 2 per share. 2,00,000. 10% Preference shares of Rs 10 each at par. The amount on share was payable as under :
|
|
Equity Shares |
Preference Shares |
|
On Application |
Rs 3 per share |
Rs 3 per share |
|
On Allotment |
Rs 5 per share |
Rs 4 per share |
|
|
(including a premium) |
|
|
On First Call |
Rs 4 per share |
Rs 3 per share |
All the shares were fully subscribed, called-up and paid. Record these transactions in the journal and cash book of the company:
Sangam Ltd. invited applications for 10,000 Equity Shares of ₹ 100 each issued at par. The amount was payable on application. The issue was oversubscribed by 2,000 shares and allotment was made on pro rata basis. Pass necessary Journal entries.
Bharat Ltd made the first call of ₹ 2 per share on its 1,00,000 Equity Shares on 1st March , 2006. Ashok, a shareholder, holding 800 shares paid the second and final call amount along with the first call money. The second and final call amount was ₹ 3 per share. Pass necessary journal entries for recording the above using the Calls-in Advance Account.
'Amrit Dhara Ltd.' issued 800 Equity Shares of ₹ 100 each at a premium of 25% as fully paid-up in consideration of the purchase of plant and machinery of ₹ 1,00,000.
Pass entries in company's Journal.
Rajan Ltd . purchased assets from Geeta & Co . for ₹ 5,00,000. A sum of ₹ 1,00,000 was paid by means of a bank draft and for the balance due Rajan Ltd. issued equity Shares of ₹ 10 each at a premium of 25%. journalise the above transactions in the books of the company.
Goodluck Ltd purchased machinery costing ₹ 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity Shares of ₹ 10 each at a premium of 25%.
Pass necessary Journal entries for the above transactions in the books of Goodluck Ltd.
Sona Ltd. purchased machinery costing ₹ 17,00,000 from Mona Ltd. Sona Ltd. paid 20% of the amount by cheque and for the balance amount issued Equity Shares of ₹ 100 each at a premium of 25% . Pass necessary Journal entries for the above transactions in the books of Sona Ltd .Show your working notes clearly.
Light Lamps Ltd. issued 50,000 shares of ₹ 10 each as fully paid-up to the promoters for their services to set-up the company . It also issued 2,000 shares of ₹ 10 each credited as fully paid-up to the underwriters of shares for their services . journalise these transactions.
State, with reasons, whether the following statement is True or False
Handling demat shares is very time consuming.
State, with reason, whether the following statement is True or False.
Preference shareholders have normal voting rights.
Equity shares and Preference shares.
Write any four features of equity shares.
According to Companies Act company cannot issue its share at ________.
Which type of shares is not convertible?
Equity share holders are ______.
Ms. Rubina, a first-time investor, does not understand the difference between securities with voting rights and securities without voting rights.
Give any five differences between the two types of securities to help her understand the difference.
