Question

Hema Ltd. invited applications for 10,000 shares of ₹ 100 each payable as follows:
₹  20 on application, ₹ 30 on allotment, ₹ 20 on first call and the balance on final call.
All the shares were applied and allotted. All the money was duly received.
You are required to Journalise these transactions.

Answer 1

Issued and Subscribed Capital 10,000 shares of ₹ 100 each
Payable as:

₹	20	on application
₹	30	on allotment
₹	20	on first call
₹	30	on final call
	100

Books of Hema Limited
Journal

Date	Particulars			L.F.	Debit Amount (₹)	Credit Amount (₹)
	Bank A/c                Dr.				2,00,000
	To Share Application A/c					2,00,000
	(Share application money received for 10,000 shares at ₹ 20 per share)
	Share Application A/c                       Dr.				2,00,000
	To Share Capital A/c					2,00,000
	(Share application of 10,000 shares of ₹ 20 each transferred to Share Capital)
	Share Allotment A/c  Dr.				3,00,000
	To Share Capital A/c					3,00,000
	(Share allotment due on 10,000 shares at ₹ 30 per share)
	Bank A/c               Dr.				3,00,000
	To Share Allotment A/c					3,00000
	(Share allotment money received for 10,000 Shares at ₹ 30 per share)
	Share First Call A/c Dr.				2,00,000
	To Share Capital A/c					2,00,000
	(Share first call due on 10,000 shares at ₹ 20 per share)
	Bank A/c      Dr.				2,00,000
	To Share First call A/c					2,00,000
	(Share first call received on 10,000 shares at ₹ 20 per share)
	Share Final Call A/c         Dr.				3,00,000
	To Share Capital A/c					3,00,000
	(Share Final call due on 10,000 shares at ₹30 per shares)
	Bank A/c         Dr.				3,00,000
	To Share Final Call A/c					3,00,000
	(Share final call received on 10,000 shares at ₹ 30 per share)