Naman Ltd Issued 20,000 Shares 0f Rs 100 Each, Payable Rs 25 on Application-Accountancy

Naman Ltd issued 20,000 shares of Rs 100 each, payable Rs 25 on application, Rs 30 on allotment , Rs 25 on first call and The balance on final call. All money duly received except Anubha, who holding 200 shares did not pay allotment and calls money and Kumkum, who holding 100 shares did not pay both the calls. The directors forfeited shares of Anubha and kumkum.

Give journal entries.

Books of Naman Ltd

Journal

Date	Particulars		L.F.	Amount (Rs.)	Amount (Rs.)
	Bank A/c	Dr.		5,00,000
	To Share Application A/c				5,00,000
	( Being Shares Application money received for 20,000 shares @ Rs 25 each)
	Share Application A/c	Dr.		5,00,000
	To Share Capital				5,00,000
	(Being Share Application money of 20,000 shares @ Rs 25 each transferred to Share Capital Account)
	Share Allotment A/c	Dr.		6,00,000
	To Share Capital A/c				6,00,000
	(Being Share Allotment due on 20,000 shares @ Rs 30 each)
	Bank A/c	Dr.		5,94,000
	To Share Allotment A/c				5,94,000
	(Being Allotment money received for 19,800 shares @ Rs 30 per share)
	Share First Call A/c	Dr.		5,00,000
	To Share Capital A/c				5,00,000
	(Being Share First Call money due on 20,000 @ Rs 25 per share)
	Bank A/c	Dr.		4,92,500
	To Share First Call A/c				4,92,500
	(Being Share First Call received @ Rs 25 per share for 19,700 shares)
	Share Final Call A/c	Dr.		4,00,000
	To Share Capital A/c				4,00,000
	(Being Share Final Call money due on 20,000 shares @ 20 per share)
	Bank A/c	Dr.		3,94,000
	To Share final call A/c				3,94,000
	(Being Share Final Call received @ Rs 20 per Share  for 19,700 shares and 300 shares failed to pay the call)
	Share Capital A/c	Dr.		30,000
	To Share Forfeiture A/c (200×25+100×55)				10,500
	To Share Allotment (200×30)				6,000
	To Share First Call A/c (300×25)				7,500
	To Share Final Call A/c (300×20)				6,000
	(Being 300 Shares forfeited)

Chapter-1 Accounting for Share Capital-II

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