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Question
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.
Solution
Journal
|
Date |
Particulars |
L.F. |
Debit |
Credit |
|
|
|
Share Application A/c |
Dr. |
90,000 |
|
|
|
|
To Share Capital |
|
|
90,000 |
|
|
|
(Share application money transferred) |
|
|
|
|
|
|
Share Allotment A/c |
Dr. |
1,20,000 |
|
|
|
|
To Share Capital A/c |
|
|
1,20,000 |
|
|
|
(Share allotment money transferred) |
|
|
|
|
|
|
Share First and Final Call A/c |
Dr. |
90,000 |
|
|
|
|
To Share Capital A/c |
|
|
90,000 |
|
|
|
(Share first and final call money transferred) |
|
|
|
|
Cash Book
Dr. Cr.
|
Particulars |
Amount |
Particulars |
Amount |
||
| Share Application A/c |
90,000 |
Balance c/d |
3,00,000 |
||
| Share Allotment A/c |
1,20,000 |
|
|||
| Share First and Final Call A/c |
90,000 |
|
|||
|
3,00,000 |
3,00,000 |
||||
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|
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Long Answer Question
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