15. X Ltd. issued 1,00,000 shares of 10 each at * 12 payable as follows: rfeiture 1,300 i.e., 7600 + 700.] *2.50 on Application, 4.50 on Allotment (including premium), 2.00 on First Call and 3.00 on Final Call. exception of first call Give the journal entries; prepare equity share capital account and securities premium reserve account. Tans Balances : Equity Share Sanital 880 000 and the final call on 2,000 shares held by Kalu. Their shares were forfeited.
Answers
Answered by
1
Explanation:
Journal of M/s Mahalaxmi Industries Ltd. Kundur.
Date
Particulars
L.F.
Debit
(Rs.)
Credit
(Rs.)
1.
Bank A/c ... Dr.
240000
To Equity Share Application A/c
240000
[Being share application money received]
2.
Equity share Application A/c .... Dr.
240000
To Equity share Capital A/c
240000
[Being share application money transferred to share capital A/c ]
3.
Equity share Allotment A/c ... Dr.
360000
To Equity Share Capital A/c
360000
[Being share allotment money due]
4.
Bank A/c ... Dr.
360000
To Equity Share Allotment A/c
360000
[Being share allotment money received]
5.
Equity Share First Call A/c ... Dr.
300000
Similar questions