Yogeshwari Co. Ltd. Ambajogai made an issue of 20,000 equity shares of Rs. 20 each, payable as follows

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]



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