In the Books of PQR Co. Ltd.

H077 Journal Entries

Sr. No. Particulars
1 Bank A/c Dr.
To Equity Share Application A/c
(Being equity share application money on 35,000 shares received)
2 Equity Share Application A/c Dr.
To Bank A/c
(Being equity share application money on 5,000 shares refunded)
3 Equity Share Application A/c Dr.
To Equity Share Capital A/c
(Being equity share application money received transferred to Equity Share Capital)
4 Equity Share Allotment A/c Dr.
To Equity Share Capital A/c
(Being equity share allotment money on 30,000 shares due)
5 Bank A/c Dr.
To Equity Share Allotment A/c
(Being equity share allotment money on 30,000 shares received)
6 Equity Share First Call A/c Dr.
To Equity Share Capital A/c
(Being equity share First Call money on 30,000 shares due)
7 Bank A/c Dr.
To Equity Share First Call A/c
(Being equity share First Call money on 30,000 shares received)
8 Equity Share Second & Final Call A/c Dr.
To Equity Share Capital A/c
(Being equity share Second Call money on 30,000 shares due)
9 Bank A/c Dr.
Call in Arrears A/c Dr.
To Equity Share Second Call & Final Call A/c
(Being equity share Second Call money on 30,000 shares received)
Total
L.F. Debit (₹) Credit (₹)
175,000
175,000

25,000
25,000

150,000
150,000

300,000
300,000

300,000
300,000

90,000
90,000

90,000
90,000

60,000
60,000

59,400
600
60,000

1,250,000 1,250,000
Dr. Bank Account
Date Particulars J.F. Amount (₹) Date
To Equity Share Application A/c 175,000
To Equity Share Allotment A/c 300,000
To Equity Share First Call A/c 90,000
To Equity Share Second Call & Final Call A/c 59,400

624,400
 Cr.
Particulars J.F. Amount (₹)
By Equity Share Application A/c 25,000
By Balance b/d 599,400

624,400
 In the Books of PQR Co. Ltd.
Balance Sheet as on _________
Liabilities Amt. (₹) Amt. (₹) Assets Amt. (₹)
Share Capital 600,000 Bank
(30,000 eq. shares x ₹20 per share)
Less: Calls in Arrears -600 599,400

599,400
Amt. (₹)
599,400

599,400
 In the Books of a Limited Company
H077 Journal Entries
Sr. No. Particulars L.F.
1 Bank A/c Dr.
To Equity Share Application A/c
(Being equity share application money received)
2 Equity Share Application A/c Dr.
To Equity Share Capital A/c
(Being equity share application money received transferred to Equity Share Capital)
3 Equity Share Allotment A/c Dr.
To Equity Share Capital A/c
(Being equity share allotment money due)
4 Bank A/c Dr.
To Equity Share Allotment A/c
(Being equity share allotment money received)
5 Equity Share First Call A/c Dr.
To Equity Share Capital A/c
(Being equity share First Call money due)
6 Bank A/c Dr.
To Equity Share First Call A/c
(Being equity share First Call money received)
7 Equity Share Final Call A/c Dr.
To Equity Share Capital A/c
(Being equity share Final Call money due)
8 Bank A/c Dr.
To Equity Share Final Call A/c
(Being equity share Final Call money received)
Total
Debit (₹) Credit (₹)
100,000
100,000

100,000
100,000

200,000
200,000

200,000
200,000

100,000
100,000

100,000
100,000

100,000
100,000

100,000
100,000

300,000 300,000
 In the Books of Ashoka Ltd.
H077 Journal Entries
Sr. No. Particulars L.F.
1 Bank A/c Dr.
To Equity Share Application A/c
(Being equity share application money received)
2 Equity Share Application A/c Dr.
To Equity Share Capital A/c
(Being equity share application money received transferred to Equity Share Capital)
3 Equity Share Allotment A/c Dr.
To Equity Share Capital A/c
(Being equity share allotment money due)
4 Bank A/c Dr.
To Equity Share Allotment A/c
(Being equity share allotment money received)
5 Equity Share First Call A/c Dr.
To Equity Share Capital A/c
(Being equity share First Call money due)
6 Bank A/c Dr.
To Equity Share First Call A/c
(Being equity share First Call money received)
7 Equity Share Second Call A/c Dr.
To Equity Share Capital A/c
(Being equity share Second Call money due)
8 Bank A/c Dr.
To Equity Share Second Call A/c
(Being equity share Second Call money received)
Total
Debit (₹) Credit (₹)
200,000
200,000

200,000
200,000

300,000
300,000

300,000
300,000

200,000
200,000

200,000
200,000

300,000
300,000

300,000
300,000

800,000 800,000
 In the Books of Ashok Ltd.
Balance Sheet as on _________
Liabilities Amt. (₹) Amt. (₹) Assets Amt. (₹)
Share Capital 500,000 Bank
(15,000 eq. shares x ₹100 per share)

Paid up Capital
(10,000 shares x ₹100 per share)

500,000
Amt. (₹)