Advertisements
Advertisements
प्रश्न
Sangam Marbles Ltd. invited applications for 20,000 Equity Shares of ₹ 100 each issued at par payable on application. The issue was oversubscribed by 5,000 shares and allotment was made on pro rata basis. Pass necessary Journal entries.
[Hint: Shares applied are 25,000 (20,000 + 5,000.]
रोजकीर्द नोंद
Advertisements
उत्तर
| Journal Entries in the Books of Sangam Marbles Ltd. |
||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Bank A/c ...Dr. | 25,00,000 | ||
| To Shares Application A/c | 25,00,000 | |||
| (Application money received on 25,000 shares @ ₹100 per share) | ||||
| 2. | Shares Application A/c ...Dr. | 25,00,000 | ||
| To Share Capital A/c | 20,00,000 | |||
| To Bank A/c | 5,00,000 | |||
| (Application money transferred to Share Capital and excess application money refunded) | ||||
Working Note:
Shares issued = 20,000 shares
Oversubscription = 5,000 shares
Therefore, shares applied for:
20,000 + 5,000 = 25,000 shares
Application money received:
25,000 × ₹ 100 = ₹ 25,00,000
Application money required on shares allotted:
20,000 × ₹ 100 = ₹ 20,00,000
Excess application money refunded:
₹ 25,00,000 − ₹ 20,00,000 = ₹ 5,00,000
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
