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Midee ltd invited application for issuing …

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Midee ltd invited application for issuing 27000 shares of 100 each payable as follow

Posted by Harsh Thakur 6 years, 10 months ago

CBSE > Class 12 > Accountancy

2 answers

Adityan Sumesh Kumar 4 years, 9 months ago

Explanation: Bank A/c - Rs. 20,00,000 - To Equity Share Application A/c (Application money received on 40,000 shares) Equity Share Application A/c - Rs. 20,00,000 To Equity Share Capital A/c - Rs. 13,50,000 To Calls in Advance A/c - Rs. 6,50,000 (Application money transferred to Share Capital) Equity Share Allotment A/c - Rs. 2,70,000 - To Equity Share Capital A/c (Allotment money due) Bank A/c - Rs. 94,000 Calls in Advance A/c - Rs. 2,00,000 To Equity Share Allotment A/c - Rs. 2,70,000 To Calls-in-Advance A/c - Rs. 24,000 (Allotment money received) Equity Share First Call A/c - Rs. 10,80,000 - To Equity Share Capital A/c (Call money due) Bank A/c - Rs. 6,26,500 Calls-in-Advance A/c - Rs. 4,50,000 Calls-in-Arrears A/c - Rs. 3,500 To Equity Share First Call A/c - Rs. 10,80,000 (Call money received) Equity Share Capital A/c- Rs. 20,000 To Equity Share First Call A/c - Rs. 3,500 To Equity Share Forfeiture A/c - Rs. 16,500 (200 shares forfeited for non-payment of call money) Bank A/c - Rs. 21,000 To Equity Share Capital A/c - Rs. 20,000 To Securities Premium A/c - Rs. 1,000 (200 shares re-issued at Rs.105 per share) Equity Share Forfeiture A/c - Rs. 16,500 - To Capital Reserve A/c (Profit on re-issue transferred to Capital Reserve)

Pragati Aggarwal 6 years, 10 months ago

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