In the Books of PQR Co. Ltd.

H077
Date Sr. No.
1

10
 In the Books of PQR Co. Ltd.
Journal Entries
Particulars L.F.
Bank A/c Dr.
To Equity Share Application A/c
(Being equity share application money on 10,000 shares received)
Equity Share Application A/c Dr.
To Bank A/c
(Being equity share application money on 3,000 shares refunded)
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.
To Equity Share Capital A/c
(Being equity share allotment money on 7,000 shares due)
Bank A/c Dr.
To Equity Share Allotment A/c
(Being equity share allotment money on 7,000 shares received)
Equity Share First and Final Call A/c Dr.
To Equity Share Capital A/c
(Being equity share First and Final Call money on 7,000 shares due)
Bank A/c Dr.
Calls in Arrears A/c
To Equity Share First and Final Call A/c
(Being equity share First and Final Call money received)
Equity Share Capital A/c Dr.
To Calls in Arrears A/c
To Share Forfeiture A/c
(Being forfeiture of 100 shares called up but due to non-payment of shares of first call)
Bank A/c Dr.
Equity Share Forfeiture A/c Dr.
To Equity Share Capital A/c
(Being re-issue of 100 shares at Rs. 7 each)
Share Forfeiture A/c Dr.
To Capital Reserve A/c
(Being Balance of Forfeiture A/c transferred to Capital Reserve)
Total
Debit (₹) Credit (₹)
40,000
40,000

12,000
12,000

28,000
28,000

28,000
28,000

28,000
28,000

14,000
14,000

13,800
200
14,000

1,000
200
800

700
300
1,000

500
500

166,500 166,500