Question -
Answer -
| Books of Arushi Computers Ltd. |
| Date | Particulars | L.F. | Debit Amount (₹) | Credit Amount (₹) |
| | Bank A/c | Dr. | | 2,00,000 | |
| | | To Share Application A/c | | | | 2,00,000 |
| | (Share Application money received for 10,000 shares @ ₹20 per share) | | | |
| | | | | |
| | Share Application A/c | Dr. | | 2,00,000 | |
| | | To Share Capital A/c | | | 2,00,000 |
| | (Share Application money for 10,000 shares transferred to Share Capital Account) | | | |
| | | | | |
| | Share Allotment A/c | Dr. | | 5,00,000 | |
| | | To Share Capital A/c | | | 4,00,000 |
| | | To Securities Premium Reserve A/c | | | 1,00,000 |
| | (Allotment money due on 10,000 shares @ ₹40 per share excluding premium ₹10) | | | |
| | | | | |
| | Bank A/c | Dr. | | 5,00,000 | |
| | | To Share Allotment A/c | | | 5,00,000 |
| | (Share Allotment money received for 10,000 shares @ ₹50 per share) | | | |
| | | | | |
| | Share First Call A/c | Dr. | | 3,00,000 | |
| | | To Share Capital A/c | | | 3,00,000 |
| | (Share First Call money due on 10,000 shares @ ₹30 per share) | | | |
| | | | | |
| | Bank A/c | Dr. | | 3,00,000 | |
| | | To Share First Call A/c | | | 3,00,000 |
| | (First Call money received for 10,000 shares @ ₹30 per share) | | | |
| | | | | |
| | Share Final Call A/c | Dr. | | 1,00,000 | |
| | | To Share Capital A/c | | | 1,00,000 |
| | (Final Call money due on 10,000 shares @ ₹10 per share) | | | | |
| | | | | |
| | Bank A/c | Dr. | | 98,000 | |
| | | To Share final call A/c | | | 98,000 |
| | (Final Call money received for 9800 shares @ ₹10 per share and 200 shares failed to pay) | | | |
| | | | | |
| | Share Capital A/c (200×" role="presentation" style="overflow-wrap: normal; max-width: none; max-height: none; min-width: 0px; min-height: 0px; float: none; word-spacing: normal;">×100) | Dr. | | 20,000 | |
| | | To Share Final Call A/c (200×" role="presentation" style="overflow-wrap: normal; max-width: none; max-height: none; min-width: 0px; min-height: 0px; float: none; word-spacing: normal;">×10) | | | 2,000 |
| | | To Share Forfeiture A/c (200×" role="presentation" style="overflow-wrap: normal; max-width: none; max-height: none; min-width: 0px; min-height: 0px; float: none; word-spacing: normal;">×90) | | | 18,000 |
| | (200 shares forfeited for non-payment of Final Call ₹ 10 per share) | | | |
| | | | | |
| | Bank A/c (150×" role="presentation" style="overflow-wrap: normal; max-width: none; max-height: none; min-width: 0px; min-height: 0px; float: none; word-spacing: normal;">×75) | Dr. | | 11,250 | |
| | Share Forfeiture A/c (150×" role="presentation" style="overflow-wrap: normal; max-width: none; max-height: none; min-width: 0px; min-height: 0px; float: none; word-spacing: normal;">×25) | Dr. | | 3,750 | |
| | | To Share Capital A/c (150×" role="presentation" style="overflow-wrap: normal; max-width: none; max-height: none; min-width: 0px; min-height: 0px; float: none; word-spacing: normal;">×100) | Dr. | | | 15,000 |
| | (150 forfeited shares reissued at ₹100 per share for ₹75) | | | | |
| | | | | |
| | Share Forfeiture A/c | Dr. | | 9,750 | |
| | | To Capital Reserve A/c | | | | 9,750 |
| | (Balance of 150 reissue shares after adjustment transferred to Capital Reserve Account) | | | |
| | | | | |
Working Notes:
Amount Transferred to CapitalReserve A/c
| Amount credited to Share Forfeiture | ₹ 90 per share |
| Less: Amount debited to Share Forfeiture | ₹25 per share |
| Balance after adjustment | ₹ 65 per share |
Amount transferred to Capital Reserve Account = Balance pershare after adjustment ×Number of shares reissued
₹ 9,750 = ₹ 65 × ₹ 150 per share