Q.1. Anish Limited Issued 30,000 EquityAccountancy Shares of Rs 100 Each Payable at Rs 30 on Application-Accountancy

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Q.1. Anish Limited Issued 30,000 Equity Shares of Rs 100 Each Payable at Rs 30 on Application, Rs 50 on Allotment and Rs 20 on 1st and Final Call. All money was duly received.

Record these transactions in the journal of the company.




Books of Anish Limited

Journal

DateParticularsL.F.
Amount
(Dr.)
Amount
(Cr.)
Bank A/cDr.9,00,000
  To Equity share Application A/c9,00,000
(Being Application money for all shares received @ Rs 30 each for 30,000 shares)
Equity share Application A/cDr.9,00,000
  To Equity share Capital A/c9,00,000
( Share application money transferred to share capital A/c )
Equity share Allotment A/cDr.15,00,0000
  To Equity share Capital A/c15,00,0000
( Allotment money Due on 30,000 shares @ 30 per each )
Bank A/cDr.15,00,0000
To Equity share Allotment A/c15,00,0000
( Allotment money received for all shares )
first and final call A/cDr.6,00,000
To Equity share Capital A/c6,00,000
( first and final call money due on 30,000 shares @20 each )
Bank A/cDr.6,00,000
To first and final call A/c6,00,000
( First and final call’s money received from all shares )

Chapter-1 Accounting for Share Capital-II



Location: India

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