Question

Moneyplus company issued 2,50,000 Equity Shares of ₹ 10 each to public. All amounts have been received in lump sum.Pass necessary Journal entries in the books of the company.

Answer 1

Authorised Capital 2,50,000 equity shares of Rs 10 each
Issued and Subscribed Capital 2,50,000 shares

In the books of Moneyplus
Journal

Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
	Bank A/c           Dr.			25,00,000
	To Equity Share Application A/c				25,00,000
	(Share application money received for 2,50,000 equity shares of Rs 10 each)
	Equity Share Application A/c       Dr.			25,00,000
	To Equity Share Capital A/c				25,00,000
	(Share application of 2,50,000 equity shares of Rs 10 each transferred to Equity Share Capital Account)