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प्रश्न
Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.
Ganesh was allotted 100 shares. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases:
Case 1. If Ganesh did not pay the allotment money and his shares were forfeited.
Case 2. If Ganesh did not pay allotment money and on his subsequent failure to pay the first call, his shares were forfeited.
Case 3. If Ganesh did not pay the first call and on his subsequent failure to pay the second and final call, his shares were forfeited.
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उत्तर
Case 1: Ganesh did not pay Allotment Money
| Journal Entry | ||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Share Capital A/c ...Dr. | 500 | |||
| To Shares Allotment A/c | 300 | |||
| To Forfeited Shares A/c | 200 | |||
| (100 shares forfeited for non-payment of allotment money) | ||||
Working Note:
Ganesh was allotted 100 shares.
Amount called-up up to allotment:
₹ 2 + ₹ 3 = ₹ 5 per share
Share Capital to be debited:
100 × ₹ 5 = ₹ 500
Application money already received:
100 × ₹ 2 = ₹ 200
Allotment money unpaid:
100 × ₹ 3 = ₹ 300
Case 2: Ganesh did not pay Allotment and First Call
| Journal Entry | ||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Share Capital A/c ...Dr. | 800 | |||
| To Shares Allotment A/c | 300 | |||
| To Shares First Call A/c | 300 | |||
| To Forfeited Shares A/c | 200 | |||
| (100 shares forfeited for non-payment of allotment and First Call) | ||||
Working Note:
Amount called-up up to First Call:
₹ 2 + ₹ 3 + ₹ 3 = ₹ 8 per share
Share Capital to be debited:
100 × ₹ 8 = ₹ 800
Application money received:
100 × ₹ 2 = ₹ 200
Allotment money unpaid:
100 × ₹ 3 = ₹ 300
First Call unpaid:
100 × ₹ 3 = ₹ 300
Case 3: Ganesh did not pay First Call and Second and Final Call
| Journal Entry | ||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Share Capital A/c ...Dr. | 1,000 | |||
| To Shares First Call A/c | 300 | |||
| To Shares Second and Final Call A/c | 200 | |||
| To Forfeited Shares A/c | 500 | |||
| (100 shares forfeited for non-payment of First Call and Second and Final Call) | ||||
Working Note:
Here, application and allotment money have been received.
Total amount called-up:
₹ 2 + ₹ 3 + ₹ 3 + ₹ 2 = ₹ 10 per share
Share Capital to be debited:
100 × ₹ 10 = ₹ 1,000
Amount already received:
100 × (₹ 2 + ₹ 3) = 100 × ₹ 5 = ₹ 500
First Call unpaid:
100 × ₹ 3 = ₹ 300
Second and Final Call unpaid:
100 × ₹ 2 = ₹ 200
