The Adersh Control Device Ltd was registered with the authorised capital of Rs 3,00,000 divided into 30,000 shares of Rs 10 each, which were offered to the public. Amount payable as Rs 3 per share on application, Rs 4 per share on allotment and Rs 3 per share on first and final call. These share were fully subscribed and all money was dully received. Prepare journal and Cash Book.

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Solution

Books of Adersh Control Device Ltd

Journal

Date

Particulars

L.F.

Debit

Amount

Rs

Credit

Amount

Rs

Equity Share Application A/c

Dr.

90,000

To Equity Share Capital A/c

90,000

(Share Application money for 30,000 shares @ Rs 3 per share

transferred to Share Capital Account)

Equity Share Allotment A/c

Dr.

1,20,000

To Equity Share Capital A/c

1,20,000

(Share Allotment money due on 30,000 @ Rs 4 per share)

Equity Share First and Final Call A/c

Dr.

90,000

To Equity Share Capital A/c

90,000

(Share First and Final Call due on 30,000 @ Rs 3 per share)

Cash Book (Bank Column)

Dr.

Cr.

Date

Particulars

J.F.

Amount

Rs

Date

Particulars

J.F.

Amount

Rs

Equity Share Application

90,000

Equity Share Allotment

1,20,000

Equity Share First and Final Call

90,000

By Balance c/d

3,00,000

3,00,000

3,00,000

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Q. The Adersh Control Device Ltd was registered with the authorised capital of Rs. 3,00,000 divided into Rs. 30,000 shares of Rs. 10 each, which were offered to the public. Amount payable as Rs. 3 per share on application, Rs. 4 per share on allotment and Rs. 3 per share on first and final call. These share were fully subscribed and all money was dully received. Prepare journal and cash book.

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Cash Book (Bank Column)
Dr.				Cr.
Date	Particulars	J.F.	Amount Rs	Date	Particulars	J.F.	Amount Rs
	Equity Share Application		90,000
	Equity Share Allotment		1,20,000
	Equity Share First and Final Call		90,000		By Balance c/d		3,00,000
			3,00,000				3,00,000

Books of Adersh Control Device Ltd Journal
Date	Particulars			L.F.	Debit Amount Rs	Credit Amount Rs
	Equity Share Application A/c		Dr.		90,000
		To Equity Share Capital A/c				90,000
	(Share Application money for 30,000 shares @ Rs 3 per share transferred to Share Capital Account)

	Equity Share Allotment A/c		Dr.		1,20,000
		To Equity Share Capital A/c				1,20,000
	(Share Allotment money due on 30,000 @ Rs 4 per share)

	Equity Share First and Final Call A/c		Dr.		90,000
		To Equity Share Capital A/c				90,000
	(Share First and Final Call due on 30,000 @ Rs 3 per share)