Question

The Adersh Control Device Ltd was registered with the authorised capital of Rs 3,00,000 divided into 30,000 shares of Rs 10 each, which were offered to the public. Amount payable as Rs 3 per share on application, Rs 4 per share on allotment and Rs 3 per share on first and final call. These shares were fully subscribed, and all money was duly received. Prepare the journal and the Cash Book.

Answer 1

Books of Adersh Control Device Ltd Journal
Date	Particulars	L.F	Debit (₹)	Credit (₹)
1.	Equity Share Application A/c   ....Dr.		90,000	-
	To Equity Share Capital A/c		-	90,000
	(Share Application money for 30,000 shares @ Rs 3 per share transferred to Share Capital Account)
2.	Equity Share Allotment A/c   ...Dr.		1,20,000	-
	To Equity Share Capital A/c		-	1,20,000
	(Share Allotment money due on 30,000 @ Rs 4 per share)
3.	Equity Share First and Final Call A/c   ...Dr.		90,000	-
	To Equity Share Capital A/c		-	90,000
	(Share First and Final Call due on 30,000 @ Rs 3 per share)

 

Dr.	Cash Book (Bank column)						Cr.
Date	Particulars	J.F	Amount (₹)	Date	Particulars	J.F	Amount (₹)
	To Equity Share Application A/c		90,000		By Balance c/d		3,00,000
	To Equity Share Allotment		1,20,000
	To Equity Share First and Final call		90,000
			3,00,000				3,00,000