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प्रश्न
Viswanath Furniture Ltd. invited applications for 20,000 shares of ₹ 10 each at a premium of 2 per share payable?
₹ 2 On application
₹ 5 (including premium) on the allotment
₹ 5 On the first and final call
There were oversubscription and applications were received for 30,000 shares and the excess applications were rejected by the directors. Pass the journal entries.
रोजनामा प्रविष्टि
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उत्तर
| Rs. | |
| Application money received (30,000 × Rs. 2) | 60,000 |
| Less: Actual application money due (20,000 × Rs. 2) | 40,000 |
| Refund on rejected application (10,000 × Rs. 2) | 20,000 |
| Date | Particulars | L.F. | Debit Rs. | Credit Rs. |
| (1) | Bank A/c (30,000 x Rs. 2) Dr. To Share Application A/c [Applicaiton money received] |
60,000 | 60,000 | |
| (2) | Share application A/c Dr. To Share capital A/c To Bank A/c [Application money tranferred & refund on rejected application] |
60,000 | 40,000 20,000 |
|
| (3) | Share Allotment A/c (20,000 x Rs.5) Dr. To share capital A/c (20,000 x Rs. 2) To Securities premium A/c (20,000 x Rs.2) [Allotment money due including premium] |
1,00,000 | 60,000 40,000 |
|
| (4) | Bank A/c Dr. To Share allotment A/c [Allotment money received] |
1,00,000 | 1,00,000 | |
| (5) | Share I & final call A/c (20,000 x Rs.5) Dr. To Share capital A/c [call money due] |
1,00,000 | 1,00,000 | |
| (6) | Bank A/c Dr. To share I & final call A/c [call money received] |
1,00,000 | 1,00,000 |
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