Yogeshwari Co. Ltd. Ambajogai made an issue of 20,000 equity shares of Rs. 20 each, payable as follows:
Solution: Journal of Yogeshwari Co. Ltd.
Date
|
Particulars
|
L.F.
|
Debit
(Rs.)
|
Credit
(Rs.)
|
1.
|
Bank A/c ... Dr.
|
125000
| ||
To Equity Share Application A/c
|
125000
| |||
[Being share application money received on 25000 shares @ Rs. 5]
| ||||
2.
|
Equity Share Application A/c ... Dr
|
125000
| ||
To Equity Share Capital A/c
|
100000
| |||
To Bank A/c
|
25000
| |||
[Being share application money transferred to share capital A/c and Balance refunded]
| ||||
3.
|
Equity Share Allotment A/c .... Dr.
|
200000
| ||
To Equity Share Capital A/c
|
200000
| |||
[Being shares allotment amount due on 20000 shares @ Rs. 10]
| ||||
4.
|
Bank A/c ... Dr.
|
200000
| ||
To Equity Share Allotment A/c
|
200000
| |||
[Being share allotment money received on all Shares]
| ||||
5.
|
Equity Share Final Call A/c ... Dr.
|
60000
| ||
To Equity share Capital A/c
|
60000
| |||
[Being share first call amount due on 20000 shares @ Rs. 3]
| ||||
6.
|
Bank A/c ... Dr.
|
60000
| ||
To Equity Share First Call A/c
|
60000
| |||
[Being Share first call amount received on all shares]
| ||||
7.
|
Equity Share Second Call A/c ... Dr.
|
40000
| ||
To Equity Share Capital A/c
|
40000
| |||
[Being share second call amount due on 20000 shares @ Rs. 2]
| ||||
8.
|
Bank A/c ... Dr.
|
39600
| ||
To Equity Share Second Call A/c
|
39600
| |||
[Being Share second call amount received on 19800 shares]
| ||||
9.
|
Calls - in - arrears A/c .... Dr.
|
400
| ||
To Equity Share Second Call A/c
|
400
| |||
[Being calls - in arrears for 200 shares recorded]
|
