Solve this:
Dear Student,
Note:
(1) First & Final call amount =
Regards,
| Journal in the books of X Ltd. | |||||
| Date | Particulars | L.F. | Debit Amount (Rs) |
Credit Amount (Rs) |
|
| Share Application A/c (2,00,000*3) | Dr. | 6,00,000 | |||
| To Share Capital A/c | 6,00,000 | ||||
| (Transfer of application money to Share Capital) | |||||
| Share Allotment A/c (2,00,000*5) | Dr. | 10,00,000 | |||
| To Share Capital A/c (2,00,000*3) | 6,00,000 | ||||
| To Securities Premium A/c (2,00,000*2) | 4,00,000 | ||||
| (Allotment due on 2,00,000 shares at a premium of Rs 2 per share) | |||||
| Securities Premium A/c | Dr | 60,000 | |||
| To Expenses on Issue of shares A/c | 60,000 | ||||
| (Expenses written off against securities premium A/c) | |||||
| Bank Account (Cash Book) of X Ltd. | |||||||
| Dr. | Cr. | ||||||
| Date | Particulars | Amount (Rs) |
Date | Particulars | Amount (Rs) |
||
| To Share Application A/c (2,00,000*3) | 6,00,000 | By Expenses on Issue of shares A/c | 60,000 | ||||
| To Share Allotment A/c (1,98,000*5) |
9,90,000 | By Balance c/d | 15,42,000 | ||||
| To Calls-in-advance (3,000*4) |
12,000 | ||||||
| 16,02,000 | 16,02,000 | ||||||
Note:
(1) First & Final call amount =
Regards,