Q. 5. Issue of Equity Shares Solution: March 2018 Board Paper

Q. 5. Issue of Equity Shares Solution:

Journal of Aniket Ltd.

Date
Particulars
L.F.
Debit
(Rs.)
Credit
(Rs. )
(1)
Bank A/c ..... Dr.

10,00,000


To Equity Share Application A/c


10,00,000

[Being application money received on 50000 shares @ Rs. 20]








(2)
Equity share Application A/c ..... Dr.

10,00,000


To Equity Share Capital A/c


8,00,000

To Equity Share Allotment A/c


2,00,000

[Being share application money transferred to share capital A/c and excess amount adjusted top allotment money]








(3)
Equity Share Allotment A/c ...... Dr.

12,00,000


To Equity share Capital A/c


12,00,000

[Being Share allotment money due on 40,000 shares @ Rs. 30]








(4)
Bank A/c ... Dr.

10,00,000


To Equity Share Allotment A/c


10,00,000

[Being share allotment money received]








(5)
Equity Share First Call A/c .... Dr.

12,00,000


To Equity Share Capital A/c


12,00,000

[Being share first call amount due on 40,000 shares @ Rs. 30]








(6)
Bank A/c ... Dr.

11,70,000


To Equity Share First Call A/c


11,70,000

[Being share first call amount received on 39,000 shares]








(7)
Equity Share Second Call A/c .... Dr.

8,00,000


To Equity Share Capital A/c


8,00,000

[Being share second call amount due on 40,000 shares @ Rs. 20]








(8)
Bank A/c ..... Dr.

7,80,000


To Equity Share Second Call A/c


7,80,000

[Being share second call amount received on 39,000 shares]








(9)
Equity Share Capital A/c ...... Dr.

1,00,000


To Equity share First Call A/c


30,000

To Equity Share Second Call A/c


20,000

To Equity Share Forfeiture A/c


50000

[Being 1000 share forfeited on account of non - payment of first and second call]








5 comments:

  1. Arrer is not there is 6 entry

    ReplyDelete
  2. In the 6th entry the amt. Will be calculated at 39000 shares as 1000 shares are not paid so the amt will be Rs. 11,70,000

    ReplyDelete
  3. Ummm was this corrected later

    ReplyDelete