Rs. 30 on
application
Rs. 20 on
allotment
Rs. 35 on
first call
Rs. 15 on
second call
Public applied for 10,000 Shares and
all the applicants were accepted by the company. Allotment of the shares were
made. All the money on allotment, first call and second call were received.
Show the journal of the company.
Solution:
In the Journal of Usha Co. Ltd.
|
Date
|
Particulars
|
L.F.
No.
|
Debit
Rs.
|
Credit
Rs.
|
|
1
|
Bank A/c ………. Dr.
|
|
300000
|
|
|
|
To Equity Share
Application A/c
|
|
|
300000
|
|
|
[Being application
money received on 10,000 equity shares at Rs. 30 per share)
|
|
|
|
|
2
|
Equity Share
Application A/c ………. Dr.
|
|
300000
|
|
|
|
To Equity Share
Capital A/c
|
|
|
300000
|
|
|
[Being Share
application money transferred to Equity Share Capital]
|
|
|
|
|
3
|
Equity Share Allotment
A/c ………. Dr.
|
|
200000
|
|
|
|
To Equity Share Capital
A/c
|
|
|
200000
|
|
|
[Being allotment money
Rs. 20 per share due on 10,000 equity shares)
|
|
|
|
|
4
|
Bank A/c ………. Dr.
|
|
200000
|
|
|
|
To Equity Share
Allotment A/c
|
|
|
200000
|
|
|
[Being allotment money
received from 10,000 equity shareholders]
|
|
|
|
|
5
|
Equity Share First
Call A/c ………. Dr.
|
|
350000
|
|
|
|
To Equity Share
Capital A/c
|
|
|
350000
|
|
|
[being first call
money of Rs. 35 per share due on 10,000 equity shares. ]
|
|
|
|
|
6
|
Bank A/c ………. Dr.
|
|
350000
|
|
|
|
To Equity Share First
Call A/c
|
|
|
350000
|
|
|
[Being first call
money received from shareholders]`
|
|
|
|
|
7
|
Equity Share Second
Call A/c ………. Dr.
|
|
150000
|
|
|
|
To Equity Share
Capital A/c
|
|
|
150000
|
|
|
[Being Second call Rs.
15 due on 10000 Equity Shares]
|
|
|
|
|
8
|
Bank A/c ………. Dr.
|
|
150000
|
|
|
|
To Equity Shares Second
Call A/c
|
|
|
150000
|
|
|
[Being second call
money received from share holders]
|
|
|
|
|
|
|
|
|
|