Marigold Ltd . was registered with the authorized capital of ₹ 3,00,000 divided into 3,000 shares of ₹ 100 each, which were offered to the public . Amount payable as ₹ 30 per share on application , ₹ 40 per share on allotment and ₹ 30 per share on first and final call . These shares were fully subscribed and all money was dully received . Prepare journal and Cash Book.

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Solution

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

Share Application A/c
Dr.

90,000

To Share Capital

90,000

(Share application money transferred)

Share Allotment A/c
Dr.

1,20,000

To Share Capital A/c

1,20,000

(Share allotment money transferred)

Share First and Final Call A/c
Dr.

90,000

To Share Capital A/c

90,000

(Share first and final call money transferred)

Cash Book

Dr.
Cr.

Particulars

Amount

(₹)

Particulars

Amount

(₹)

Share Application A/c
90,000
Balance c/d
3,00,000

Share Allotment A/c
1,20,000

Share First and Final Call A/c
90,000

3,00,000

3,00,000

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Cash Book
Dr.				Cr.
Particulars	Amount (₹)	Particulars	Amount (₹)
Share Application A/c	90,000	Balance c/d	3,00,000
Share Allotment A/c	1,20,000
Share First and Final Call A/c	90,000
	3,00,000		3,00,000

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
	Share Application A/c	Dr.		90,000
	To Share Capital				90,000
	(Share application money transferred)

	Share Allotment A/c	Dr.		1,20,000
	To Share Capital A/c				1,20,000
	(Share allotment money transferred)

	Share First and Final Call A/c	Dr.		90,000
	To Share Capital A/c				90,000
	(Share first and final call money transferred)