A public company issued 2000 equity share of 100 each payable as follows. On application 20 per , on allotment 40 per ,( including 5 premium) , on 1st call 25 per , on 2nd and final call balance due. The calls money on 100 shares. Pass necessary entire and prepare journal. Face value=100, issue price=100+5
Dear Student,
Journal
Regards.
Journal
Date | Particulars | L.F. | Debit | Credit |
Bank A/c …Dr. To Equity Share Application A/c (Being the application money received for 2,000 equity shares) | 40,000 | 40,000 | ||
Equity Share Application A/c …Dr. To Equity Share Capital A/c (Being the share application money transferred to Equity Share Capital A/c) | 40,000 | 40,000 | ||
Equity Share Allotment A/c …Dr. To Equity Share Capital A/c To Securities Premium Reserve A/c (Being the share allotment money due) | 80,000 | 70,000 10,000 | ||
Bank A/c …Dr. To Equity Share Allotment A/c (Being the allotment money received for 2,000 equity shares) | 80,000 | 80,000 | ||
Equity Share First Call A/c …Dr. To Equity Share Capital A/c (Being the first call money due) | 50,000 | 50,000 | ||
Bank A/c …Dr. To Equity Share First Call A/c (Being the first call money received for 2,000 equity shares) | ||||
Equity Share Final Call A/c …Dr. To Equity Share Capital A/c (Being the final call money due) | 40,000 | 40,000 | ||
Bank A/c …Dr. To Equity Share Final Call A/c (Being the final call money received for 2,000 equity shares) | 40,000 | 40,000 |
Regards.