PASS JOURNAL ENTRIES

Dear Student,
 
Journal
Date Particulars L.F. Debit
Amount
(Rs)
Credit
Amount
(Rs)
           
  Bank A/c Dr.   16,00,000  
    To Equity Share Application A/c       16,00,000
  (Application money received)        
           
  Equity Share Application A/c Dr.   16,00,000  
    To Equity Share Capital A/c       10,00,000
    To Equity Share Allotment A/c       5,00,000
    To Bank A/c       1,00,000
  (Application money transferred to Capital A/c, Allotment A/c and balance refunded)        
           
  Equity Share Allotment A/c Dr.   15,00,000  
    To Equity Share Capital A/c       15,00,000
  (Allotment money due)        
           
  Bank A/c Dr.   10,22,500  
    To Equity Share Allotment A/c       10,00,000
    To Calls in Advance A/c       22,500
  (Allotment money received)        
           
  Equity Share First Call A/c Dr.   10,00,000  
    To Equity Share Capital A/c       10,00,000
  (First call money due)        
           
  Bank A/c Dr.   9,97,000  
  Calls in Advance A/c Dr.   3,000  
    To Equity Share First Call A/c       10,00,000
  (First call money received)        
           
  Equity Share Final Call A/c Dr.   65,00,000  
    To Equity Share Capital A/c       15,00,000
    To Securities Premium A/c       50,00,000
  (Final call money due)        
           
  Bank A/c Dr.   63,89,500  
  Calls in Advance A/c Dr.   19,500  
  Calls in Arrears A/c Dr.   91,000  
    To Equity Share Final Call A/c       65,00,000
  (Final call money received)        
           
  Equity Share Capital A/c Dr.   70,000  
  Securities Premium A/c Dr.   70,000  
    To Equity Share Forfeiture A/c       49,000
    To Calls in Arrears A/c       91,000
  (Manohar’s shares forfeited)        
           
  Bank A/c Dr.   70,000  
    To Equity Share Capital A/c       70,000
  (Manohar’s shares reissued)        
           
  Share Forfeiture A/c Dr.   49,000  
    To Capital Reserve A/c       49,000
  (Balance transferred to Capital Reserve)        

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