Application |
Rs |
5 |
|
Allotment |
Rs |
3 |
(1+2) |
First and Final Call |
Rs |
4 |
|
|
|
12 |
(10+2) |
Called-up = Application + Allotment
= Rs 5 + 3 (including premium Rs 2)
Book of JCV Limited Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
|
|
|
|
|
Share Capital A/c (200×6) |
Dr. |
|
1,200 |
|
|
Securities Premium A/c (200×2) |
Dr. |
|
400 |
|
|
To Share Forfeiture A/c (200×5) |
|
|
1,000 |
|
|
To Calls-in-Arrears A/c (200×3) |
|
|
600 |
|
|
(200 shares of Rs 10 each on which Rs 8 had called (including Rs 2 premium), forfeited for the non-payment of allotment Rs 3 (including Rs 2 premium) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
800 |
|
|
Share Forfeiture A/c |
Dr. |
|
200 |
|
|
To Share Capital A/c |
|
|
1,000 |
|
|
(100 shares of Rs 10 each re-issued at Rs 8 per share fully paid-up) |
|
|
|
|
|
|
|
|
|
|
|
Share Forfeiture A/c |
Dr. |
|
300 |
|
|
To Capital Reserve |
|
|
300 |
|
|
(Amount of share forfeiture of 100 re-issued shares transferred to Capital Reserve) |
|
|
|
|
|
|
|
|
|
Working Note
Share Forfeiture of Re-issued Shares
Share Forfeiture (at the time of forfeiture) |
Cr. |
5 |
|
Share Forfeiture (at the time of re-issue) |
Dr. |
2 |
|
Balance in Share Forfeitre (after re-issue) |
Cr. |
3 |
per share |
Capital Reserve