PASS JOURNAL ENTRIES
Dear Student,
| Journal | |||||
| Date | Particulars | L.F. | Debit Amount (Rs) |
Credit Amount (Rs) |
|
| Bank A/c | Dr. | 16,00,000 | |||
| To Equity Share Application A/c | 16,00,000 | ||||
| (Application money received) | |||||
| Equity Share Application A/c | Dr. | 16,00,000 | |||
| To Equity Share Capital A/c | 10,00,000 | ||||
| To Equity Share Allotment A/c | 5,00,000 | ||||
| To Bank A/c | 1,00,000 | ||||
| (Application money transferred to Capital A/c, Allotment A/c and balance refunded) | |||||
| Equity Share Allotment A/c | Dr. | 15,00,000 | |||
| To Equity Share Capital A/c | 15,00,000 | ||||
| (Allotment money due) | |||||
| Bank A/c | Dr. | 10,22,500 | |||
| To Equity Share Allotment A/c | 10,00,000 | ||||
| To Calls in Advance A/c | 22,500 | ||||
| (Allotment money received) | |||||
| Equity Share First Call A/c | Dr. | 10,00,000 | |||
| To Equity Share Capital A/c | 10,00,000 | ||||
| (First call money due) | |||||
| Bank A/c | Dr. | 9,97,000 | |||
| Calls in Advance A/c | Dr. | 3,000 | |||
| To Equity Share First Call A/c | 10,00,000 | ||||
| (First call money received) | |||||
| Equity Share Final Call A/c | Dr. | 65,00,000 | |||
| To Equity Share Capital A/c | 15,00,000 | ||||
| To Securities Premium A/c | 50,00,000 | ||||
| (Final call money due) | |||||
| Bank A/c | Dr. | 63,89,500 | |||
| Calls in Advance A/c | Dr. | 19,500 | |||
| Calls in Arrears A/c | Dr. | 91,000 | |||
| To Equity Share Final Call A/c | 65,00,000 | ||||
| (Final call money received) | |||||
| Equity Share Capital A/c | Dr. | 70,000 | |||
| Securities Premium A/c | Dr. | 70,000 | |||
| To Equity Share Forfeiture A/c | 49,000 | ||||
| To Calls in Arrears A/c | 91,000 | ||||
| (Manohar’s shares forfeited) | |||||
| Bank A/c | Dr. | 70,000 | |||
| To Equity Share Capital A/c | 70,000 | ||||
| (Manohar’s shares reissued) | |||||
| Share Forfeiture A/c | Dr. | 49,000 | |||
| To Capital Reserve A/c | 49,000 | ||||
| (Balance transferred to Capital Reserve) | |||||