In case of issue of shares at premium for cash consideration, the entry will be _______________________.

Bank a/c Dr To Share capital a/c To Share premium a/c

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Bank a/c Dr To Share premium a/c

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Bank a/c Dr To Share capital a/c

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To Share Premium a/c Dr To Share Capital a/c

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Solution

The correct option is A Bank a/c Dr To Share capital a/c To Share premium a/c
Date Particulars Amount (Dr.) Amount (Cr.)
1. On receipt of Application money Bank A/c (application and premium amount) Dr.
To Share Application A/c Cr.
(Being application money received on shares)
2. Transfer of application money to Share Capital A/c and Securities Premium A/c Share Application A/c Dr.
To Securities Premium A/c Cr.
To Share Capital A/c Cr.
(Being share application money transferred to share capital)

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Similar questions

\begin{matrix} Date & Particulars & L.F. & Debit (₹) & Credit (₹) Share Capital A/c Dr. & (i) - - - Securities Premium A/c Dr. & 4,000 To Share Forfeiture A/c & 8,000 To Calls in Arrears A/c & 14,000 ( _____ shares forfeited for non-payment of ₹ _(ii)___ including premium of ₹2 per share) - ----------------------------------------------------------------------------------------------------------------- - Bank A/c Dr. & (iii) - -- - Shares Forfeiture A/c Dr. & (iv) - -- - To Share Capital A/c & (v) - -- - ( _______ shares reissued at ₹9 per share, fully paid at ₹10 per share) - ------------------------------------------------------------------------------------------ - Share Forfeiture A/c Dr. & 1,400 To Capital Reserve A/c & 1,400 (Net gain on reissued shares transferred to capital reserve) \end{matrix}

Note: Face value of shares is ₹10 each.

(v) On re-issue of shares, share capital account is credited with:

[2 marks]

\begin{matrix} Date & Particulars & L.F. & Debit (₹) & Credit (₹) Share Capital A/c Dr. & (i) - - - Securities Premium A/c Dr. & 4,000 To Share Forfeiture A/c & 8,000 To Calls in Arrears A/c & 14,000 ( _____ shares forfeited for non-payment of ₹ _(ii)___ including premium of ₹2 per share) - ----------------------------------------------------------------------------------------------------------------- - Bank A/c Dr. & (iii) - -- - Shares Forfeiture A/c Dr. & (iv) - -- - To Share Capital A/c & (v) - -- - ( _______ shares reissued at ₹9 per share, fully paid at ₹10 per share) - ------------------------------------------------------------------------------------------ - Share Forfeiture A/c Dr. & 1,400 To Capital Reserve A/c & 1,400 (Net gain on reissued shares transferred to capital reserve) \end{matrix}

Note: Face value of shares is ₹10 each.

(iii) On reissue of shares, bank account is debited with:

[2 marks]

\begin{matrix} Date & Particulars & L.F. & Debit (₹) & Credit (₹) Share Capital A/c Dr. & (i) - - - Securities Premium A/c Dr. & 4,000 To Share Forfeiture A/c & 8,000 To Calls in Arrears A/c & 14,000 ( _____ shares forfeited for non-payment of ₹ _(ii)___ including premium of ₹2 per share) - ----------------------------------------------------------------------------------------------------------------- - Bank A/c Dr. & (iii) - -- - Shares Forfeiture A/c Dr. & (iv) - -- - To Share Capital A/c & (v) - -- - ( _______ shares reissued at ₹9 per share, fully paid at ₹10 per share) - ------------------------------------------------------------------------------------------ - Share Forfeiture A/c Dr. & 1,400 To Capital Reserve A/c & 1,400 (Net gain on reissued shares transferred to capital reserve) \end{matrix}

Note: Face value of shares is ₹10 each.
(i) The shares were forfeited for non-payment of:

[2 marks]

Fill in the missing figures :
$\begin{matrix} Date & Particulars & L.F. & Debit & Credit (Rs) & (Rs) Sundry Assets A/c & Dr. & . . . . . . . . . . . . To Vendor A/c & . . . . . . . . . . . (Being business is taken over by X Ltd) - ----------------------------------------- - Vendor A/c & Dr. & . . . . . . . . . . . . To Equity Share Capital A/c & . . . . . . . . . . . . To Securities Premium Reserve A/c & . . . . . . . . . . . . (Being purhase consideration on Rs 2,00,000 is settled by issuing equity shares of Rs 10 each at a premium of 25 %) \end{matrix}$

Q. Preference shares amounting to Rs. 2,00,000 are redeemed at a premium of 5%, by issue of shares amounting to Rs. 1,00,000 at a premium of 10 %. The amount to be transferred to capital redemption reserve will be _____.

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Date	Particulars		Amount (Dr.)	Amount (Cr.)
1. On receipt of Application money	Bank A/c (application and premium amount)	Dr.
	To Share Application A/c	Cr.
	(Being application money received on shares)
2. Transfer of application money to Share Capital A/c and Securities Premium A/c	Share Application A/c	Dr.
	To Securities Premium A/c	Cr.
	To Share Capital A/c	Cr.
	(Being share application money transferred to share capital)