Question

Anish Limited issued 30,000 equity shares of Rs 100 each payable at Rs 30 on application, Rs 50 on allotment and Rs 20 on Ist and final call. All money was duly received.

Record these transactions in the journal of the company.

Answer 1

In the Books of Anish Limited Journal Entries
Date	Particulars	L.F.	Debit (₹)	Cedit (₹)
1.	Bank A/c   ...Dr.		9,00,000	-
	To Equity Share Application A/c		-	9,00,000
	(Application money received on application for 30,000 equity shares @ Rs 30 per share)
2.	Equity Share Application A/c   ...Dr.		9,00,000	-
	To Equity Share Capital A/c		-	9,00,000
	(Share Application money transferred to Share Capital Account)
3.	Equity Share Allotment A/c   ...Dr.		15,00,000	-
	To Equity Share Capital A/c		-	15,00,000
	(Share Allotment money received for   30,000 shares @ Rs 50 per share)
4.	Equity Share First and Final Call A/c   ....Dr.		6,00,000	-
	To Equity Share Capital A/c		-	6,00,000
	(Share First and Final call due on 30,000 shares @ Rs 20 per share)
5.	Bank A/c   ...Dr.		6,00,000	-
	To Equity Share First and Final Call A/c		-	6,00,000
	(Share First and Final Call money received for 30,000 shares @ Rs20 per share)