On Application | ₹ 2 per share, | |
On Allotment | ₹ 4 per share; and | |
On First and Final call | Balance Amount. |
Category | No . of Shares Applied | No. of Shares Allotted |
I | 80,000 | 40,000 |
II | 25,000 | 10,000 |
Journal
|
|||||
Date
|
Particulars
|
L.F.
|
Debit
Amount
(₹)
|
Credit
Amount
(₹)
|
|
Bank A/c (1,50,000 × 2) |
Dr.
|
3,00,000
|
|
||
To Share Application A/c |
|
|
3,00,000
|
||
(Application money received on 1,50,000 shares) |
|
|
|
||
|
|
|
|||
Share Application A/c |
Dr.
|
3,00,000
|
|
||
To Share Capital A/c |
|
|
1,00,000
|
||
To Share Allotment A/c |
|
|
1,10,000
|
||
To Bank A/c |
|
90,000
|
|||
(Application money transferred to Share Capital) |
|
|
|
||
|
|
|
|||
Share Allotment A/c (50,000 × 4) |
|
2,00,000
|
|
||
To Share Capital A/c |
|
|
2,00,000
|
||
(Allotment money due on 50,000 shares) |
|
|
|
||
|
|
|
|||
Bank A/c |
Dr.
|
88,900
|
|
||
To Share Allotment A/c (WN2) |
|
|
88,900
|
||
(Allotment money received) |
|
|
|
||
|
|
|
|||
Share Capital A/c (600 × 6) |
Dr.
|
3,600
|
|||
To Share Allotment A/c (1,000 + 100) |
|
1,100
|
|||
To Share Forfeiture A/c (2,000 + 500) |
|
2,500
|
|||
(600 shares forfeited for non–payment of allotment money) |
|
||||
Share First and Final Call A/c |
Dr.
|
1,97,600
|
|||
To Share Capital A/c |
|
1,97,600
|
|||
(Call money due on 49,400 shares) |
|
||||
|
|
|
|||
Bank A/c |
Dr.
|
1,97,600
|
|
||
To Share First and Final Call A/c |
|
|
1,97,600
|
||
(Call money received) |
|
|
|
||
|
|
|
|||
Bank A/c (600 × 11) |
Dr.
|
6,600
|
|
||
To Share Capital A/c |
|
|
6,000
|
||
To Security Premium Reserve A/c |
|
|
600
|
||
(600 shares re–issued at Rs 11 per share) |
|
|
|
||
|
|
|
|||
Share Forfeiture A/c |
Dr.
|
2,500
|
|
||
To Capital Reserve A/c |
|
|
2,500
|
||
(Profit on re–issue transferred to Capital Reserve) |
|
|
|
||
|
|
Categories
|
Shares Applied
|
Shares Allotted
|
Money received on Application
@ Rs 2 each
|
Money transferred to Share Capital
@ Rs 2 each
|
Excess Application Money
|
Amount adjusted on Allotment
|
Money refunded
|
I
|
80,000
|
40,000
|
1,60,000
|
80,000
|
80,000
|
80,000
|
–
|
II
|
25,000
|
10,000
|
50,000
|
20,000
|
30,000
|
30,000
|
–
|
III
|
45,000
|
–
|
90,000
|
–
|
–
|
–
|
90,000
|
|
1,50,000
|
50,000
|
3,00,000
|
1,00,000
|
1,10,000
|
1,10,000
|
90,000
|
|
|
|
|
|
|
|
|
Amount Due on Allotment |
2,00,000
|
Less: Excess Received |
1,10,000
|
Balance to be Received |
90,000
|
Less: Amount not paid by Deepak |
(1,000)
|
Less: Amount not paid by Raju |
(100)
|
Amount received on Allotment |
88,900
|
Amount not paid by Deepak on Allotment | |
Amount received on Application |
2,000
|
Less: Transferred to Share Capital |
(1,000)
|
Excess received on Application |
1,000
|
Amount due on allotment |
2,000
|
Less: Excess adjustment |
(1,000)
|
Amount unpaid by Deepak |
1,000
|
Amount not paid by Raju on Allotment | |
Amount received on Application |
500
|
Less: Transferred to Share Capital |
(200)
|
Excess received on Application |
300
|
Amount due on allotment |
400
|
Less: Excess adjustment |
(300)
|
Amount unpaid by Raju |
100
|