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Bliss Products Ltd. registered with capital …

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Bliss Products Ltd. registered with capital of ₹ 80,00,000 divided into 80,000 equity shares of ₹ 100 each. The company issued prospectus inviting applications for 50,000 equity shares of ₹ 100 each payable as ₹ 20 on application, ₹ 30 on allotment, ₹ 20 on first call and balance on second call. Applications were received for ₹50,000 shares. Raman to whom 2600 shares were allotted failed to pay final call money and these shares were forfeited. Of the forfeited shares,1600 shares were reissued to Sukhman, credited as fully paid for ₹ 90 per share. Present the Share Capital as per Schedule III of Companies Act, 2013

Posted by Muskaan Singhal 4 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Gaurav Seth 4 years, 11 months ago

Gaurav Seth 4 years, 11 months ago

Bank A/C Dr 8,00,000

To Share Application A/C 8,00,000

Share Application A/C Dr 8,00,000

To Share Capital A/C 8,00,000

Share Allotment A/C Dr 12,00,000

To Share Capital A/C 12,00,000

Bank A/C Dr 12,00,000

To Share Allotment A/C 12,00,000

Share First call A/C Dr 8,00,000

To Share Capital A/C 8,00,000

Bank A/C Dr 8,00,000

To Share First Call A/C 8,00,000

Share Final Call A/C Dr 12,00,000

To Share Capital A/C 12,00,000

Bank A/C Dr 11,52,000

To Share Final Call A/C 11,52,000

Share Capital A/C Dr 1,60,000

To Share Final Call A/C 48,000

To Share Forfeiture A/C 1,12,000

Bank A/C Dr 54,000

Disc on issue of Shares A/C Dr 6,000

To Share Capital A/C 60,000

Share Forfeiture A/C Dr 42,000

To Disc on issue of Shares A/C 6,000

To Capital Reserve 36,000

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