Q91 pg-8.

126

CASH BOOK
PARTICULARS AMOUNT PARTICULARS AMOUNT
To share application a/c (3000 * 6) 18,000 By Share application a/c (600 * 6) 3,600
To share allotment a/c 1,568
To share first call a/c 5,700
To share final call a/c 5,700
To share capital 720 By balance c/d 28,088
31,688 31,688

JOURNAL
DATE PARTICULARS LF DEBIT CREDIT
Share application a/c dr 14,400
To share capital a/c 10,000
To securities premium reserve a/c 2,000
To share allotment a/c 2,400
(being application amount adjusted)

Share Allotment a/c dr 4,000

To share capital a/c 2,000
To securities premium reserve a/c 2,000
(being share allotment amount due on 2000
shares @rs.1)

Share First Call a/c dr 6,000

To share capital a/c 4,000
To securities premium reserve a/c 2,000
(being share first money due on 2000 shares
@rs.3)

Share capital a/c (40 * 8) dr 320

Securities premium a/c dr 72
To share forfeiture a/c 240
To share allotment a/c 32
To share first call a/c 120
(Being 40 shares of X forfeited)

Share final call a/c dr 5,880

To share capital a/c 3,920
To securities premium reserve a/c 1,960
(being final call due on 1960 shares @ Rs.3)

Share capital a/c dr 600

Securities premium reserve a/c dr 120
To share forfeiture a/c 360
To share first call a/c 180
To share second and final call a/c 180
(being 60 shares of Y forfeited for non-
 payment of amount)

Share forfeiture a/c dr 80

To share capital a/c 80
(being 80 shares of Rs. 10 each re-issued at
rs.9)

Share forfeiture a/c dr 400

To capital reserve a/c 400
(being balance of 80 reissued shares
transferred to capital reserve)

BALANCE SHEET

PARTICULARS NOTE NO. AMOUNT

I Equity and Liabilities
1. Shareholder’s funds
a. Share Capital 19,920
b. Reserves and surplus 8,168
2. Non- current liabilities
3. Current liabilities 28,088
TOTAL

II. Assets
1. Non-current assets
2. Current assets 28,088
a. Cash and Cash Equivalents 28,088
TOTAL

NOTES TO ACCOUNTS

NOTE NO. PARTICULARS AMOUNT

1. Share Capital 20,000
Authorised share capital (2000 shares @ rs. 10 each) -----------
Subscribed, called up and paid-up share capital
1,980 shares @ rs.10 each 19,800
+ shares forfeited + 120
19,920
2. Reserves and Surplus
Securities Premium 7,768 8,168
Capital Reserve 400

Cash and cash Equivalents

Cash at bank
28,088