Q81 Pg.8.

124

PARTICULARS DEBIT CREDIT

Share application a/c dr 15,000 -
To share capital a/c - 10,000
To share allotment a/c - 5,000

Share allotment a/c dr 25,000 -

To share capital a/c - 20,000
To securities premium a/c - 5,000

Share First call a/c dr 40,000 -

To share capital a/c - 40,000

Securities premium a/c dr 500 -

Share capital a/c dr 7,000 -
To share forfeiture a/c - 1,500
To share allotment a/c - 2,000
To share first call a/c - 4,000

Share Forfeiture a/c dr 1,000 -

To share capital a/c - 1,000

Share forfeiture a/c 500 -

To capital reserve a/c - 500

CASH BOOK

PARTICULARS AMOUN PARTICULARS AMOUNT

T
To share application 18,000 By share application 3,000
To share allotment 18,000 By balance c/d 75,000
To share first call a/c 36,000
To share capital a/c 6,000
78,000 78,000

Q.89

Pg- 8.126

JOURNAL
 PARTICULARS DEBIT CREDIT
Bank a/c dr 9,00,000 -
To equity share application a/c - 9,00,000

Equity Share Application a/c dr 9,00,000

To equity share capital a/c - 6,00,000
To equity share allotment a/c - 3,00,000

Equity share allotment a/c dr 10,00,000 -

To equity share capital a/c - 10,00,000

Bank a/c dr 6,88,000 -

To equity share allotment a/c - 6,88,000

Equity share capital a/c dr 24,000 -

To share forfeiture a/c - 12,000
To share allotment a/c - 12,000

Equity shares first and final call a/c dr 3,94,000 -

To equity share capital a/c - 3,94,000

Bank a/c dr 3,92,000 -

To equity share first and final call a/c - 3,92,000

Equity share capital a/c dr 10,000 -

To share forfeiture a/c - 8,000
To equity share first and final call a/c - 2,000

Bank a/c dr 28,000 -

Share forfeiture a/c dr 7,000 -
To Equity share capital a/c - 35,000

Share Forfeiture a/c dr 9,000 -

To capital reserve a/c - 9,000

WORKING NOTES –

Issued capital = 2,00,000 shares of rs. 10 each

Applied shares = 3,00,000

Zocon Ltd. issued a prospectus inviting applications for 5,00,000 equity shares of `10 each issued at a premium of 10%
payable as: `3 on Application `5 on Allotment (including premium) and `3 on call. Applications were received for 6, 60,000
shares. Allotment was made as follows: (a) Applicants of 4, 00,000 shares were allotted in full. (b) Applicants of 2, 00,000
shares were allotted 50% on pro rata basis. (c) Applicants of 60,000 shares were issued letters of regret. A shareholder to
whom 500 shares were allotted under category (a) paid full amount on shares allotted to him along with allotment money.
Another shareholder to whom 1,000 shares were allotted under category (b) failed to pay the amount due on allotment.
His shares were immediately forfeited. These shares were then reissued at `14 per share as `7 paid up. Call has not yet been
made. Journalise.
 JOURNAL

PARTICULARS DEBIT CREDIT

Bank a/c dr 19,80,000 -
To equity share application a/c - 19,80,000

Equity share application a/c dr 19,80,000 -

To equity share capital a/c - 15,00,000
To equity share allotment a/c - 3,00,000
To bank a/c - 1,80,000

Equity share allotment a/c dr 25,00,000 -

To equity share capital a/c - 20,00,000
To securities premium a/c - 5,00,000

Bank a/c dr 21,99,500 -

Calls in arrears a/c dr 2,000 -
To equity share allotment a/c - 22,00,000
To calls in advance a/c - 1,500

Equity share capital a/c dr 7,000 -

Securities premium reserve a/c dr 1,000 -
To share forfeiture a/c - 6,000
To calls in arrears a/c - 2,000

Bank a/c dr 14,000 -

To share capital a/c - 7,000
To securities premium reserve a/c - 7,000

Share forfeiture a/c dr 6,000 -

To capital reserve a/c - 6,000
PARTICULARS DEBIT CREDIT
Revaluation a/c dr 20,000 -
To plant and machinery a/c - 20,000

Land and Building a/c dr 40,000 -

Provision for doubtful debts a/c dr 40,000 -
To revaluation a/c - 80,000

Creditors a/c dr 40,000 -

To Bills payable a/c - 40,000

Revaluation a/c dr 60,000 -

To sunaina current a/c - 36,000
To tamanna current a/c - 24,000

Sunaina current a/c dr 12,000 -

Tamanna current a/c dr 8,000 -
To goodwill a/c - 20,000

Cash a/c dr 1,10,000 -

To pranav capital a/c - 1,00,000
To premium for goodwill a/c - 10,000

Premium for goodwill a/c dr 10,000 -

To sunaina a/c - 6,000
To tamanna a/c - 4,000

General reserve a/c dr 1,20,000 -

To sunaina a/c - 72,000
To tamanna a/c - 48,000

Workmen compensation reserve a/c dr 50,000 -

To claim for workmen compensation - 20,000
To sunaina a/c - 18,000
To tamanna a/c - 12,000