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Question
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.
Solution
Issued and Subscribed Capital 10,000 shares of ₹ 100 each
Payable as:
| ₹ | 20 | on application |
| ₹ | 30 | on allotment |
| ₹ | 20 | on first call |
| ₹ | 30 | on final call |
| 100 |
Books of Hema Limited
Journal
|
Date |
Particulars |
L.F. |
Debit |
Credit |
||
|
|
Bank A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share Application A/c |
|
|
2,00,000 |
||
|
|
(Share application money received for 10,000 shares at ₹ 20 per share) |
|
|
|
||
|
|
Share Application A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
2,00,000 |
||
|
|
(Share application of 10,000 shares of ₹ 20 each transferred to Share Capital) |
|
|
|
||
|
|
Share Allotment A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
3,00,000 |
||
|
|
(Share allotment due on 10,000 shares at ₹ 30 per share) |
|
|
|
||
|
|
Bank A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Allotment A/c |
|
|
3,00000 |
||
|
|
(Share allotment money received for 10,000 Shares at ₹ 30 per share) |
|
|
|
||
|
|
Share First Call A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
2,00,000 |
||
|
|
(Share first call due on 10,000 shares at ₹ 20 per share) |
|
|
|
||
|
|
Bank A/c Dr. |
|
2,00,000 |
|
||
|
|
To Share First call A/c |
|
|
2,00,000 |
||
|
|
(Share first call received on 10,000 shares at ₹ 20 per share) |
|
|
|
||
|
|
Share Final Call A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Capital A/c |
|
|
3,00,000 |
||
|
|
(Share Final call due on 10,000 shares at ₹30 per shares) |
|
|
|
||
|
|
Bank A/c Dr. |
|
3,00,000 |
|
||
|
|
To Share Final Call A/c |
|
|
3,00,000 |
||
|
|
(Share final call received on 10,000 shares at ₹ 30 per share) |
|
|
|
||
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