Question

Anish Limited issued 30,000 equity shares of Rs 100 each payable at Rs 30 on application, Rs 50 on allotment and Rs 20 on Ist and final call. All money was duly received.

Record these transactions in the journal of the company.

Answer 1

Books of Anish Limited
Date	Particulars				L.F.	Debit Amount Rs	Credit Amount Rs
	Bank A/c			Dr.		9,00,000
		To Equity Share Application A/c					9,00,000
	(Application money received on application for 30,000 equity shares @ Rs 30 per share)
	Equity Share Application A/c			Dr.		9,00,000
		To Equity Share Capital A/c					9,00,000
	(Share Application money transferred to Share Capital Account)
	Equity Share Allotment A/c			Dr.		15,00,000
		To Equity Share Capital A/c					15,00,000
	(Allotment money due on 30,000 @ Rs 50 per share)
	Bank A/c			Dr.		15,00,000
		To Equity Share Allotment A/c					15,00,000
	(Share Allotment money received for 30,000 shares @ Rs 50 per share)
	Equity Share First and Final Call A/c			Dr.		6,00,000
		To Equity Share Capital A/c					6,00,000
	Share First and Final call due on 30,000 shares @ Rs 20 per share)
	Bank A/c			Dr.		6,00,000
		To Equity Share First and Final Call A/c					6,00,000
	(Share First and Final Call money received for 30,000 shares @ Rs20 per share)