Page 34 - DEBK12

8.24 Double Entry Book Keeping—CBSE XII

Solution: JOURNAL OF A LTD.
Date Particulars L.F. Dr. (`) Cr. (`)
Bank A/c ...Dr. 2,25,000
To Shares Application A/c 2,25,000
(Application money received on 9,000 Equity Shares)
Shares Application A/c ...Dr. 2,25,000
To Share Capital A/c 2,25,000
(Transfer of application money to Share Capital Account)
Shares Allotment A/c ...Dr. 4,05,000
To Share Capital A/c 2,25,000
To Securities Premium Reserve A/c 1,80,000
(Amount due on allotment—` 25 on account of share capital and ` 20
on account of securities premium)
Bank A/c ...Dr. 4,05,000
To Shares Allotment A/c 4,05,000
(Amount due on allotment received)
Shares First Call A/c ...Dr. 1,80,000
To Share Capital A/c 1,80,000
(Amount due on first call @ ` 20 per share on 9,000 Equity Shares)
Bank A/c ...Dr. 1,76,000
To Shares First Call A/c 1,76,000
(Amount received on account of the first call, i.e., ` 20 on
8,800 Equity Shares)
Shares Second and Final Call A/c ...Dr. 2,70,000
To Share Capital A/c 2,70,000
(Second and final call money due on 9,000 shares)
Bank A/c ...Dr. 2,64,000
To Shares Second and Final Call A/c 2,64,000
(Amount actually received on account of second and final call)
Share Capital A/c ...Dr. 20,000
To Shares First Call A/c 4,000
To Shares Second and Final Call A/c 6,000
To Forfeited Shares A/c 10,000
(200 shares forfeited for non-payment of first call and second and
final call money)
Students should prepare the Ledger Accounts to draw the Balance Sheet.

BALANCE SHEET OF A LTD. as at ...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 8,90,000