Question

The authorised capital of suhani is rs. 45,00,000 divided into 30,000 shares of rs.150 each. Out of these company issued 15,000 shares of rs. 150 each at a premium of rs. 10 per share. The amount was payable as follows. Rs. 50 per share on application, rs.40 per share on allotment (including premium) rs. 30 per share on first call and the balance on final call. Public applied for 14,000 shares. All the money was duly received. Prepare balance sheet.

Answer 1

Answer:

bank a/c Dr 7,00,000

to share application a/c 7,00,000

share application a/c Dr 7,00,000

to share capital a/c 7,00,000

share allotment a/c Dr 5,60,000

to share capital a/c 4,20,000

to share premium a/c 1,40,000

bank a/c Dr 5,60,000

to share allotment a/c 5,60,000

first call a/c Dr 4,20,000

to share capital a/c 4,20,000

bank a/c Dr .4,20,000

to share first call a/c 4,20,000

2nd and final call a/c Dr 5,60,000

to share capital a/c 5,60,000

bank a/c Dr

to share 2nd call a/c 5,60,000

Answer 2

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