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SAHITYA BHAWAN
Excess Applications Received and Their Adjustment
2 Company issued 20,000 shares of 100 each in public for subscripion at 10% premium on which am
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e payable 20 on application, 50 on allotment including premium, * 20 on first call and
and final call. Applications were received for 25.000 shares. The gross money received on 'application'
adjusted on Allotment Account. Amount due on all the calls was duly paid. Pass Journal entries in the book
of the Company
[Ans. Amount of Securities premium 2,00,000. Adjusted amount on allotment 1,00,000.JI
20 per share on application
G.E.C. Company Limited issued 20,000 shares of 100 each to public on which
40 on allotment and 40 on first and final call were payable. Applications were received for 25,000 shares
The extra money received on application for 5,000 shares was utilised for allotment money. All the calls wer
duly paid by the shareholders. Pass Journal entries in the books of the Company.
[Ans. Total of Journal 41,00,000.]
Calls in Arrears
Allahabad Company Limited issued 5,000, 6% preference shares of 10 each at a premium of 4 per share
1 per share on application, 6 per share on allotment (with premium), * 3 per share on first call and 4 per
share on final call were payable. All the shares were subscribed and all the amounts were duly paid, except
1,000 shares on which the first call money and 1,500 shares on which final call money was not received. Pass
Journal entries in the books of the Company
Ans. Calls in arrear on first call * 3,000 and calls in arrear on final call 6,000.)
A Company issued 1,000 shares of 10 each at a premium of 3 per share. Amount on these shares was payable
as1 on application, 5 on allotment (including premium). 3 on first call and 4 on final call. On 200 shares.
the final call money was not received. The rest of the money was duly received. Pass Journal entries in the
books of the Company and prepare Balance Sheet.
[Ans. Calls in arrear 800; Bank balance 12,200; Premium 3,000 and Total of Balance Sheet 12,200.]
A Company was incorporated. Its capital was 15,00,000, which was divided into 1,50,000 shares of 10 each.
1,00,000 shares were issued to the public, On them 1 on application, 2 on allotment, 3 on first call and
4 on final call were payable. Applications were received for 90,000 shares. All the amounts due were duly
received, except 'A' who has 200 shares failed to pay allotment money and money due on both the calls and 'B'
who had 500 shares failed to pay money due on both the calls. Pass Journal entries in the books of Company
and prepare Balance Sheet.
[Ans. Total of Balance Sheet 8,94,700; Calls in arrear 5,300.]
Calls in Arrear and Calls in Advance
A Company issued 20,000 shares of 7 10 each on which payment are made as follows:
2 on application received on 1st April, 2015
* 2 on allotment received on 1st July, 2015
2 on first call received on 1st Oct., 2015
3 on second and final call received on 1st Dec., 2015
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Answer 1

hey.... questions not clear...

better work on it nxt tym