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प्रश्न
BBG Ltd. invited applications for issuing 2,00,000 equity shares of Rs 10 each at a premium of Rs 10 per share. The amount was payable as follows:
On Application − Rs 4 per share (including Rs 2 premium)
On Allotment − Rs 5 per share (including Rs 2 premium)
On First call − Rs 5 per share (including Rs 3 premium)
On Second and final call − Balance amount
The issue was fully subscribed. Raghu, a shareholder holding 1000 shares, failed to pay the allotment money and Rahim, another shareholder holding 1500 shares, paid his entire share money along with allotment. Raghu's shares were forfeited immediately after allotment. Afterwards, the first call was made Deenanath, a shareholder holding 500 shares, failed to pay the first call money and Dayal, a shareholder holding 600 shares, paid his second call money along with the first call. Deenanath's shares were forfeited immediately after the first call. Later on the second call was made which was duly received.
Pass necessary journal entries for the above transactions in the books of BBG Ltd.
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उत्तर
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Journal |
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|
Date |
Particulars |
L.F. |
Debit Amount (Rs) |
Credit Amount (Rs) |
|
|
|
Bank A/c (2,00,000 × 4) |
Dr. |
|
8,00,000 |
|
|
|
To Equity Share Application A/c |
|
|
|
8,00,000 |
|
|
(Received application money on 2,00,000 shares) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Share Application A/c |
Dr. |
|
8,00,000 |
|
|
|
To Equity Share Capital A/c |
|
|
|
4,00,000 |
|
|
To Securities Premium Reserve A/c |
|
|
|
4,00,000 |
|
|
(Transfer of application money to Share Capital) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Share Allotment A/c (2,00,000 × 5) |
Dr. |
|
10,00,000 |
|
|
|
To Equity Share Capital A/c |
|
|
|
6,00,000 |
|
|
To Securities Premium Reserve A/c |
|
|
|
4,00,000 |
|
|
(Allotment due on 2,00,000 shares ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank A/c (1,99,000 × 5) + (1,500 × 11) |
Dr. |
|
10,11,500 |
|
|
|
To Equity Share Allotment A/c (1,99,000 ×5) |
|
|
|
9,95,000 |
|
|
To Calls-in-Advance A/c (1,500 × 11) |
|
|
|
16,500 |
|
|
(Allotment money received) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Share Capital A/c (1,000 × 5) |
Dr. |
|
5,000 |
|
|
|
Securities Premium Reserve A/c (1,000 × 2) |
Dr. |
|
2,000 |
|
|
|
To Equity Share Allotment A/c (1,000 × 5) |
|
|
|
5,000 |
|
|
To Equity Share Forfeiture A/c (1,000 × 2) |
|
|
|
2,000 |
|
|
(Forfeiture of 1,000 shares for non-payment of allotment money including premium of Rs 2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Share First Call A/c (1,99,000 × 5) |
Dr. |
|
9,95,000 |
|
|
|
To Equity Share Capital A/c |
|
|
|
3,98,000 |
|
|
To Securities Premium Reserve A/c |
|
|
|
5,97,000 |
|
|
(Call money due on 1,99,000 shares) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank A/c (1,98,500 × 5) − 7,500 + 3,600 |
Dr. |
|
9,88,600 |
|
|
|
Calls-in-Advance A/c (1,500 × 5) |
Dr. |
|
7,500 |
|
|
|
To Calls-in-Advance A/c (600 × 6) |
|
|
|
3,600 |
|
|
To Equity Share First Call A/c |
|
|
|
9,92,500 |
|
|
(Received call money) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Share Capital A/c (500 × 7) |
Dr. |
|
3,500 |
|
|
|
Securities Premium Reserve A/c (500 × 3) |
|
|
1,500 |
|
|
|
To Equity Share First Call A/c (500 × 5) |
|
|
|
2,500 |
|
|
To Equity Share Forfeiture A/c (500 × 5) |
|
|
|
2,500 |
|
|
(Forfeiture of 500 shares for non-payment of call money) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Share Second and Final Call A/c (1,98,500 × 6) |
Dr. |
|
11,91,000 |
|
|
|
To Equity Share Capital A/c |
|
|
|
5,95,500 |
| To Securities Premium A/c | 5,95,500 | ||||
|
|
(Call money due on 1,98,500 shares) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
11,78,400 |
|
|
|
Calls-in-Advance A/c (9,000 + 3,600) |
|
|
12,600 |
|
|
|
To Equity Share Second and Final Call A/c |
|
|
|
11,91,000 |
|
|
(Received call money on shares) |
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APPEARS IN
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