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प्रश्न
Bharat Ltd. was incorporated with a capital of ₹ 2,00,000 divided into shares of ₹ 10 each. 2,000 shares were offered for subscription and out of these, 1,800 shares were applied for and allotted. ₹ 3 per share (including ₹ 1 premium) was payable on application, ₹ 4 per share (including ₹ 1 premium) on allotment, ₹ 2 per share on first call and ₹ 3 per share on final call. All the money was received. Give necessary Journal entries and show share capital in the Balance Sheet.
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उत्तर
| Journal Entries in the Books of Bharat Ltd. |
||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Bank A/c ...Dr. | 54,000 | ||
| To Shares Application A/c | 54,000 | |||
| (Application money received on 18,000 shares @ ₹3 per share) | ||||
| 2. | Shares Application A/c ...Dr. | 54,000 | ||
| To Share Capital A/c | 36,000 | |||
| To Securities Premium A/c | 18,000 | |||
| (Application money transferred, including premium ₹1 per share) | ||||
| 3. | Shares Allotment A/c ...Dr. | 72,000 | ||
| To Share Capital A/c | 54,000 | |||
| To Securities Premium A/c | 18,000 | |||
| (Allotment money due @ ₹4 per share, including premium ₹1 per share) | ||||
| 4. | Bank A/c ...Dr. | 72,000 | ||
| To Shares Allotment A/c | 72,000 | |||
| (Allotment money received) | ||||
| 5. | Shares First Call A/c ...Dr. | 36,000 | ||
| To Share Capital A/c | 36,000 | |||
| (First Call money due on 18,000 shares @ ₹2 per share) | ||||
| 6. | Bank A/c ...Dr. | 36,000 | ||
| To Shares First Call A/c | 36,000 | |||
| (First Call money received) | ||||
| 7. | Shares Final Call A/c ...Dr. | 54,000 | ||
| To Share Capital A/c | 54,000 | |||
| (Final Call money due on 18,000 shares @ ₹3 per share) | ||||
| 8. | Bank A/c ...Dr. | 54,000 | ||
| To Shares Final Call A/c | 54,000 | |||
| (Final Call money received) | ||||
Working Note:
Application:
18,000 × ₹ 3 = ₹ 54,000
Capital portion:
18,000 × ₹ 2 = ₹ 36,000
Premium:
18,000 × ₹ 1 = ₹ 18,000
Allotment:
18,000 × ₹ 4 = ₹ 72,000
Capital portion:
18,000 × ₹ 3 = ₹ 54,000
Premium:
18,000 × ₹ 1 = ₹ 18,000
First Call:
18,000 × ₹ 2 = ₹ 36,000
Final Call:
18,000 × ₹ 3 = ₹ 54,000
| Balance Sheet | ||
|---|---|---|
| Particulars | Note No. | ₹ |
| EQUITY AND LIABILITIES | ||
| Shareholders' Funds | ||
| Share Capital | 1 | 1,80,000 |
| Notes to Accounts | |
|---|---|
| Particulars | ₹ |
| Note 1: Share Capital | |
| Authorised Capital: | |
| 2,00,000 Equity Shares of ₹ 10 each | 20,00,000 |
| Issued Capital: | |
| 20,000 Equity Shares of ₹ 10 each | 2,00,000 |
| Subscribed and Fully Paid-up Capital: | |
| 18,000 Equity Shares of ₹ 10 each | 1,80,000 |
