The HTM Ltd. Issued 156,000 Equity shares of Rs. 10 each, payable as under:


On Application Rs. 3  
On Allotment Rs. 2
On First Call Rs. 3
On Final Call Rs. 2
All the shares were fully subscribed by the public. All the money due on instalments were received.
Pass journal entries to record the above transactions in the books of the company.

Solution:


Date
Particulars
L.F.
No.
Debit
Rs.
Credit
Rs.
1
Bank A/c ………… Dr.

45000


To Equity Share Application A/c


45000

[Being application money received on 15000 shares of Rs. 3 per share)



2
Equity Share Application A/c  ………… Dr.

45000


To Equity Share Capital A/c


45000

[Being share application money transferred to Equity share capital]



3
Equity Share Allotment A/c  ………… Dr.

30000


To Equity Share Capital A/c


30000

[Being allotment money of Rs. 2 per share due on 15000 equity shares)



4
Bank A/c  ………… Dr.

30000


To Equity Share Allotment A/c


30000

[Being allotment money due received from applicants]



5
Equity Share First Call A/c  ………… Dr.

45000


To Equity Share Capital A/c


45000

[Being first call money Rs. 3 pre share due on 15000 equity shares]



6
Bank A/c  ………… Dr.

45000


To Equity Share First Call A/c


45000

[being first call money due received from shareholders]



7
Equity Share Final Call A/c  ………… Dr.

30,000


To Equity Share Capital A/c


30000

[Being final call money Rs. 2 per share due on 15000 equity shares)



8
Bank A/c  ………… Dr.

30000


To Equity Share First Call A/c


30000

[Being final call money received from equity shareholders)