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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 - Accountancy

Numerical

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.

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Solution

Date  Particulars  L.F. Debit amount Rs Credit amount Rs
 

Bank A/c               Dr

        To Equity Share Application A/c

(Application money received on application for 30,000 equity shares @ Rs 30 per share)

 

9,00,000

 

 

 

 

 

 

 

9,00,000

 

 

 

Equity Share Application A/c

          To Equity Share Capital A/c

(Share Application money transferred to Share Capital

Account)

 

9,00,000

 

 

 

 

 

9,00,000

 

 

Equity Share Allotment A/c

          To Equity Share Capital A/c

(Allotment money due on 30,000 @ Rs 50 per share)

 

15,00,000

 

 

 

 

15,00,0000
 

Bank A/c

          To Equity Share Allotment A/c

(Share Allotment money received for   30,000 shares @ Rs 50 per share)

 

15,00,000

 

 

 

 

 

 

15,00,0000

 

 

 

Equity Share First and Final Call A/c

          To Equity Share Capital A/c

(Share First and Final call due on 30,000 shares @ Rs 20 per share)

 

6,00,000

 

 

 

 

 

6,00,000
 

Bank A/c

        To Equity Share First and Final Call A/c

(Share First and Final Call money received for 30,000

shares @ Rs20 per share)

 

6,00,000

 

 

 

 

 

 

 

 6,00,000

 

 

 

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APPEARS IN

NCERT Class 12 Accountancy - Company Accounts and Analysis of Financial Statements
Chapter 1 Accounting for Share Capital
Numerical Questions | Q 1 | Page 65
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