Page 324 - VIRANSH COACHING CLASSES

7. On second call due
Share second call A/c ...................................................Dr.
To Share capital A/c
(Being share second call money on .... Shares @ ` .... per share due)
8. On second call money received
Bank A/c .......................................................................Dr.
To Share second call A/c
(Being share second call money on .... Shares @ ` .... per share received)
9. On Third& Final call due
Share Third & Final call A/c ........................................Dr.
To Share Capital A/c
(Being Share Third & Final call money on .... Shares @ ` .... per share due)
10. On Third & Final call money received
Bank A/c .......................................................................Dr.
To Share Third & Final Call A/c
(Being share Third & Final call money on .... Shares @ ` .... per share received)

Illustrations

1. Gajanan Ltd. Issued 60,000 equity shares of ` 10 each payable as Application, ` 3 on Allotment,
` 3 on First Call, ` 2 on final call. The shares subscribed and all the amount due was received.
Pass necessary Journal the book of Gajanan Ltd.
Solution :

Date Particulars L.F. Debit ` Credit `
1. Bank A/c .............................................................Dr. 1,20,000
To Equity Share Application A/c 1,20,000
(Being equity share application money on 60,000
share @ ` 2 per share received)
2. Equity Share Application A/c .............................Dr. 1,20,000
To Equity Share Capital A/c 1,20,000
(Being application money on 60,000 equity shares @
` 2 per share transferred to equity share capital)
3. Equity Share Allotment A/c ................................Dr. 1,80,000
To Equity Share Capital A/c 1,80,000
(Being allotment money on 60,000 equity shares @
` 3 due)
4. Bank A/c .............................................................Dr. 1,80,000
To Equity Share Allotment A/c 1,80,000
(Being Equity share Allotment money on 60,000
shares @ ` 3 received)

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