On 1st April, 2019, Ambuja Ltd. issued 30,000 equity shares of 10 each payable as : 2 on application,
3 on allotment and 5 on first and final call four months after allotment.
Applications were received for 36,000 shares and the directors returned 12,000 to the applicants for
6 shares
One shareholder failed to pay allotment money on 900 shares. Later on he paid it at the time of first and
final call. The directors charged interest @ 5% per annum on calls-in-arrear according to the provisions
of Table A which was duly received.
Journalise the transactions in the books of the company.
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Note No.
Amount
(Rs)
I. Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital
1
44,99,000
2. Non-Current Liabilities
3. Current Liabilities
Total
44,99,000
II. Assets
1. Non-Current Assets
2. Current Assets
a. Cash and Cash Equivalents
2
44,99,000
Total
44,99,000
NOTES TO ACCOUNTS
Note No.
Particulars
Amount
(Rs)
1
Share Capital
Authorised Share Capital
5,00,000 equity shares of Rs 10 each
50,00,000
Issued Share Capital
5,00,000 equity shares of Rs 10 each
50,00,000
Subscribed, Called-up and Paid-up Share Capital
4,50,000 equity shares of Rs 10 each
45,00,000
Less: Calls in Arrears (500 shares × Rs 2)
(1,000)
44,99,000
2
Cash and Cash Equivalents
Cash at Bank
44,99,000
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