In the Books of XYZ Co. Ltd.

H077
Date Sr. No.
1

8
 In the Books of XYZ Co. Ltd.
Journal Entries
Particulars L.F.
Bank A/c Dr.
To Equity Share Application A/c
(Being equity share application money on 3,000 shares received)
Equity Share Application A/c Dr.
To Equity Share Capital A/c
(Being equity share application money received transferred to Equity Share Capital)
Equity Share Allotment A/c Dr.
Discount on Issue of Shares A/c
To Equity Share Capital A/c
(Being equity share allotment money after allowing 5% discount on shares due)
Bank A/c Dr.
To Equity Share Allotment A/c
(Being equity share allotment money on 3,000 shares received)
Equity Share First Call A/c Dr.
To Equity Share Capital A/c
(Being equity share First Call money on 3,000 shares due)
Bank A/c Dr.
Calls in Arrears A/c
To Equity Share First Call A/c
(Being equity share First Call money for 2,800 shares 30,000 shares received)
Equity Share Capital A/c Dr.
To Calls in Arrears A/c
To Share Forfeiture A/c
To Discount on issue of shares
(Being forfeiture of 200 shares called up but due to non-payment of shares of first call.
Bank A/c Dr.
Discount on Issue of Shares A/c Dr.
Equity Share Forfeiture A/c Dr.
To Equity Share Second Call & Final Call A/c
(Being re-issue of 200 shares at rs. 5 as paid up 8rs.)
Total
Debit (₹) Credit (₹)
7,500
7,500

7,500
7,500

8,550
450
9,000

8,550
8,550

6,000
6,000

5,600
400
6,000

1,600
100
400
1,100

1,000
100
500
1,600

47,750 47,750