Question

Marigold Ltd . was registered with the authorized capital of ₹ 3,00,000 divided into 3,000 shares of ₹ 100 each, which were offered to the public . Amount payable as ₹ 30  per share on application , ₹ 40 per share on allotment and ₹ 30 per share on first and final call . These shares were fully subscribed and all money  was dully received . Prepare journal and Cash Book.

Answer 1

Journal

Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
	Share Application A/c	Dr.		90,000
	To Share Capital				90,000
	(Share application money transferred)
	Share Allotment A/c	Dr.		1,20,000
	To Share Capital A/c				1,20,000
	(Share allotment money transferred)
	Share First and Final Call A/c	Dr.		90,000
	To Share Capital A/c				90,000
	(Share first and final call money transferred)

Cash Book

Dr.                                                                                Cr.

Particulars		Amount (₹)	Particulars	Amount (₹)
Share Application A/c		90,000	Balance c/d	3,00,000
Share Allotment A/c		1,20,000
Share First and Final Call A/c		90,000
		3,00,000		3,00,000