Accountancy, asked by avnishyadav5953, 22 days ago

Apex co ltd invested application for 5000 equity shares of rs100each at 10%premium payable as under on application Rs20 on allotment rs50 on first and final call rs40 application were received for 15000 shares .The allotment was made as follow to the application of 9000shares nil.to the application of 4000shares full. To the application of remaining share pro-rata basis .it was

Answers

Answered by prog72585
0

Explanation:

Sr.no PARTICULARS DEBIT CREDIT

1 Bank A/C Dr. 3,00,000

To share app. A/C 3,00,000

(15,000×20 = 3,00,000)

2 Share app. A/C Dr. 3,00,000

To Share capital A/C (5000×20) 1,00,000

To Share allot. A/C (1000×20) 20,000

To Bank A/C (9000×20) 1,80,000

___________________________________________

W.N. 1) Share capital Amount on Application:

4000 × 20 = 80000 (full)

1000 × 20 = 20000 (pro - rata 2:1)

1,00,000

2) Excess Fund received on Application :

1000 × 20 = 20000

(Adjusted in Allotment)

3) Amount refunded :

9000 × 20 = 1,80,000 (Bank)

____________________________________________

3 Share Allotment A/C Dr . 2,50,000

To Share capital A/C 2,00,000

To Security Prem A/C 50,000

4 Bank A/C Dr. 2,30,000

To Share Allot . A/C 2,30,000

____________________________________________

W.N. 1) Amount Due on Allotment = 2,50,000

( 5000 × 40 ) (5000 × 10 )

- Amount adjusted on App. = (20,000)

2,30,000

____________________________________________

5 Share Final call A/C Dr. 2,00,000

To share capital A/C 2,00,000

( 5000 × 40 )

6 Bank A/C Dr. 2,00,000

To share final call A/C 2,00,000

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