In the Books of A & B Co. Ltd.

H077 Journal Entries

Date Sr. No. Particulars L.F.
1 Bank A/c Dr.
To Equity Share Application A/c
(Being equity share application money on 30,000 shares received)
2 Equity Share Application A/c Dr.
To Bank A/c
(Being equity share application money on 5,000 shares refunded)
3 Equity Share Application A/c Dr.
To Equity Share Capital A/c
To Share Allotment A/c
(Being equity share application money received transferred to Equity Share
Capital and excess of 5,000 shares at Rs. 2.50 per share adjusted)
4 Equity Share Allotment A/c Dr.
To Equity Share Capital A/c
To Share Premium A/c
(Being equity share allotment money on 20,000 shares due)
5 Bank A/c Dr.
To Equity Share Allotment A/c
(Being equity share allotment money on 20,000 shares received)
6 Equity Share First and Final Call A/c Dr.
To Equity Share Capital A/c
(Being equity share First and Final Call money on 20,0000 shares due)
7 Bank A/c Dr.
Calls in Arrears A/c Dr.
To Equity Share First and Final Call A/c
(Being equity share First and Final Call money received on all shares except
on 4,500 shares)
8 Bank A/c Dr.
To Calls in Arrears A/c
To Interest on Calls in Arrears A/c
(Being Calls in arrears on 4,500 shares received with 10% interest after 6
months from due date)
9 Expenses of Issue A/c Dr.
To Bank A/c
(Being expenses on issue of shares being paid)
Total
Debit (₹) Credit (₹)
120,000
120,000

20,000
20,000

100,000
80,000
20,000

100,000
80,000
20,000

80,000
80,000

40,000
40,000

31,000
9,000
40,000

9,900
9,000
900

6,000
6,000

515,900 515,900