Dhyani Ceramic limited issued 3,00,000 equity shares of Rs.10 each at premium of Rs.150 per share, on which amount was payable as under:
On application Rs.74 per share(including premium of Rs.70), on allotment Rs.44 per share (including premium of Rs.40) on final call Rs.42 per share (including premium of Rs.40)
company received application for 3,00,000 shares. All amounts due were received except final call on 2000 shares held by Vishal company forefeited shares of Vishal and all forefeited shares were reissued at Rs.80 per share.
Answers
Answer:
Bank account. Dr 2,22,00,000 To share application account2,22,00,000
Share application a/c Dr 2,22,00,000
To share capital account. 12,00,000
To security premium reserve. 2,10,00,000
Share allotment account. Dr 1,32,00,000
To share capital account. 12,00,000 To security premium reserve. 1,20,00,000
Bank account. Dr. 1,32,00,000
To share allotment account.1,32,00,000
Share final call account Dr 1,26,00,000
To share capital account. 6,00,000
To security premium reserve1,20,00,000
Bank account. Dr 1,25,16,000
callsin arrears. Dr 84000
To share final call account 1,26,00,000
Share capital account Dr 20000
security premium reserve Dr 80000
To callsin arrears. 84000
To share forfeited account. 16000
Bank account. Dr 160000
To share capital account 20000
To security premium reserve 140000
Share forfeiture account Dr 16000
To capital reserve. 16000