In the Books of XYZ

JOURNAL
Date Particulars
YZ

L.F. Amount (Dr.) Amount (Cr.)

 Seat no- : 454565
Seat no in words- Four lakh fifty-four thousand five hundred and sixty five

Semester: II
Name of the Course: Corporate Accounting
five hundred and sixty five

Accounting
 STATEMENT SHOWING DETAILS OF SHARE A

Category Status Shares Applied Shares Alloted

I Rejected

II 50%

III 100%

IV Pro rata
HOWING DETAILS OF SHARE APPLICATION MONEY
Disposition of Application Money
App Money
Received Share Capital Allotment Call-in-advance Refund
 In the Books of apc ltd
JOURNAL
Date Particulars L.F.
bank a/c dr
to share application a/c
(being application money recived)

share application a/c dr

to share capital a/c
(being application money transferred to share capital)

share allotment a/c dr

to share capital a/c
(being allotment money due)

bank a/c dr
call in arrears a/c
to share allotment
(being share allotment money received and arrears )
Amount (Dr.) Amount (Cr.)
1,200,000
1200000

1,200,000
120000

1200000
1200000

1176000
24000
120000
 STATEMENT SHOWING AMOUNT
Share Application Rs.
Name of Allotte No. of Shares
HOWING AMOUNT RECEIVED AND CALLS-IN-ARREARS ON FORFEITED SHARES
Share Allotment Rs. Share First Call Rs.
Share Second & Final Call Rs.
 Dr.
Receipt and Payment Account for the year ending March
Receipt Amount (Rs.)

Dr.
Income and Expenditure Account for the year ending Marc
Expenditure Amount (Rs.)
 Balance Sheet as on March 31, 2021
Liabilities Amount (Rs.)
 Cr.
ount for the year ending March 31, 2021
Payment Amount (Rs.)

Cr.
ccount for the year ending March 31, 2021
Income Amount (Rs.)
heet as on March 31, 2021
Assets Amount (Rs.)
Working Notes:
 In the Books of viola Ltd
JOURNAL
Date Particulars
realization a/c
to real estate a/c
to building a/c
to plant and machinery a/c
to equipment a/c
to account recievable a/c
to inventories a/c
to debtors a/c
to cash a/c
(being assets realized )
creditors a/c
to realizationa/c
(being liablities realized)

share capital a/c

reserves and surpus a/c
profit and loss a/c
to sundry equity share holders a/c
(being share capital, reserves and surpus and profit and loss transferred toexisting equity
shareholder)
zenobia ltd a/c
to realization a/c
(being realiation amount due from transferee company)

shares in zenobia ltd a/c

to zenobia a/c
(being shares in zenobia apporiated to be transferred to transferor company)

sundry equity shareholders a/c

to shares in zenobia a/c
(being shares in zenobia ltd transferred to existing equity shareholders a/c
sundry equity shareholder a/c
to realization a/c
(being loss on realization transferred to existing shareholders)

Working Notes

calucaltion of purchase consideration for viola ltd

add:assets
less:liablities
less:loss on realization
purchase consideration for viola ltd

calucaltion for purchase consideration for yarrow ltd

add:assets
less:liablities
less:loss on realization
purchase consideration for yarrow ltd
ola Ltd

L.F. Amount (Dr.) Amount (Cr.) Date

660000
288,000
90,000
30,000
12,000
10,000
80,000
30,000
120,000

90,000
90,000

360,000
180,000
30,000
570000

528000
528000

528000
528000

528000
528000
 42000
42000

es

660000
-90000
-42000
528000

540000
-30000
-180000
330000
 In the Books of yarlow Ltd
JOURNAL
Particulars L.F.
realization a/c
to real estate a/c
to building a/c
to plant and machinery a/c
to equipment a/c
to account recievable a/c
to inventories a/c
to debtors a/c
to cash a/c
(being assets realized )
creditors a/c
to realizationa/c
(being liablities realized)

share capital a/c

reserves and surpus a/c
profit and loss a/c
to sundry equity share holders a/c
(being share capital, reserves and surpus and profit and loss transferred toexisting equity
shareholder)
sundry equity shareholder a/c
to realization a/c
(being loss on realization transferred to existing shareholders)

zenobia ltd a/c

to realization a/c
(being realiation amount due from transferee company)

shares in zenobia ltd a/c

to zenobia a/c
(being shares in zenobia apporiated to be transferred to transferor company)
sundry equity shareholders a/c
to shares in zenobia a/c
(being shares in zenobia ltd transferred to existing equity shareholders a/c

sundry equity shareholder a/c

to realization a/c
(being loss on realization transferred to existing shareholders)

Working Notes
 In the

Amount (Dr.) Amount (Cr.) Date

540,000
276,000
60,000
18,000
6,000
5,000
40,000
75,000
60,000

30,000
30,000

300,000
150,000
60,000
510000

180,000
180,000

330000
330000

330,000
330000
330,000
330000

Working Notes
 In the Books of zenobia Ltd
JOURNAL
Particulars L.F.
business purchases a/c
to liquidator of viola ltd a/c
to liquidators of yarlow ltd a/c
(being the amount payable to the liquidators of viola and yarlow as per agreement)

real estate a/c

building a/c
plant and machinery a/c
equipment a/c
account recievable a/c
inventories a/c
debtors a/c
cash a/c
to creditors a/c
to business purchases a/c
to reserves a/c
to profit and loss a/c
real estate a/c
building a/c
plant and machinery a/c
equipment a/c
account recievable a/c
inventories a/c
debtors a/c
cash a/c
to creditors a/c
to business purchases a/c
to reserves a/c
to profit and loss a/c
(being various assets and liablities absorbed by transfereee company
liquidators of viola ltd a/c
liquidators of yarlow ltd a/c
to sundry equity share capital
(being the issue of equity shares)
 creditors a/c
to cash a/c
(being creditors of transferor company paid off by transferee company

rking Notes
Amount (Dr.) Amount (Cr.)
858,000
528000
330000

288,000
90,000
30,000
12,000
10,000
80,000
30,000
120,000
90,000
528000
12000
30000
276,000
60,000
18,000
6,000
5,000
40,000
75,000
60,000
30,000
330,000
120,000
60000

528,000
330,000
858,000
120,000
120000
 ESOPS
JOURNAL
In the Books of XYZ
Date Particulars
 Working Notes
Calculation of Intrinsic value of options

Calculation of Employees Compensation Expenses to be written off for

YZ
L.F. Amount (Dr.) Amount (Cr.)
e of options

be written off for two and a half years

 STATEMENT OF LIABILITY OF B LIST OF CONTRIBUTO
Creditors outstanding on the date of such transfer N

Date Rs. Rs. Rs.

Total (a)
No.of Shares held
Maximum Liability on Shares held (b)
Amount Paid - Lower of (a) or (b)
Working Notes

Step 1

Step 2

Step 3
Step 3

Step 4

Step 5

Step 6
Y OF B LIST OF CONTRIBUTORIES
O P Q Amount to be paid to
creditors
Rs. Rs. Rs. Rs.

orking Notes