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प्रश्न
Classic Ltd. invited applications for 1,00,000 shares of ₹ 10 each at premium of ₹ 5 each payable ₹ 10 on application and balance as allotment money. Ankur holding 1,000 shares did not pay the allotment money and his shares were forfeited.
Pass the necessary Journal entries.
रोजकीर्द नोंद
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उत्तर
| Journal Entries | ||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Bank A/c ...Dr. | 10,00,000 | ||
| To Shares Application A/c | 10,00,000 | |||
| (Being application money received @ ₹ 10 per share) | ||||
| 2. | Shares Application A/c ...Dr. | 10,00,000 | ||
| To Share Capital A/c | 10,00,000 | |||
| (Being shares allotted and application money transferred) | ||||
| 3. | Shares Allotment A/c ...Dr. | 5,00,000 | ||
| To Securities Premium A/c | 5,00,000 | |||
| (Being Securities Premium due) | ||||
| 4. | Bank A/c ...Dr. | 4,95,000 | ||
| Calls-in-Arrears A/c ...Dr. | 5,000 | |||
| To Shares Allotment A/c | 5,00,000 | |||
| (Being shares allotment money received) | ||||
| 5. | Share Capital A/c ...Dr. | 10,000 | ||
| Securities Premium A/c ...Dr. | 5,000 | |||
| To Forfeited Shares A/c | 10,000 | |||
| To Calls-in-Arrears A/c | 5,000 | |||
| (Being 1,000 shares forfeited) | ||||
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