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Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve
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Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share...
Journal Entries:
1. Initial issue of shares:
- Share Capital A/c (15000 shares x Rs 10) Dr. 150,000
- Share Premium A/c (15000 shares x Rs 2) Dr. 30,000
- Bank A/c Cr. 180,000
2. Application money received:
- Bank A/c Dr. 30,000
- Share Application A/c (15000 shares x Rs 2) Cr. 30,000
3. Allotment money received:
- Bank A/c Dr. 30,000
- Share Allotment A/c (15000 shares x Rs 2) Cr. 30,000
4. First call money received:
- Bank A/c Dr. 45,000
- Share First Call A/c (15000 shares x Rs 3) Cr. 45,000
5. Final call money received:
- Bank A/c Dr. 60,000
- Share Final Call A/c (15000 shares x Rs 4) Cr. 60,000
6. Forfeiture of shares not paid for the first call:
- Share First Call A/c (2000 shares x Rs 3) Dr. 6,000
- Share Forfeiture A/c (2000 shares x Rs 10) Dr. 20,000
- Share Capital A/c (2000 shares x Rs 10) Cr. 20,000
- Share Premium A/c (2000 shares x Rs 2) Cr. 4,000
- Share Forfeited A/c (2000 shares x Rs 10) Cr. 6,000
7. Reissue of forfeited shares:
- Bank A/c Dr. 26,000
- Share Forfeited A/c (2000 shares x Rs 10) Cr. 20,000
- Share Capital A/c (2000 shares x Rs 10) Cr. 20,000
- Share Premium A/c (2000 shares x Rs 2) Cr. 6,000
Cash Book Entries:
| Date | Particulars | L.F. | Amount (Rs) | Date | Particulars | L.F. | Amount (Rs) |
|-----------|----------------------------------------------|------|-------------|-----------|---------------------------------------------------|------|-------------|
| DD/MM/YYYY | To Share Capital A/c | | 150,000 | DD/MM/YYYY | By Balance b/d | | 0 |
| DD/MM/YYYY | To Share Premium A/c | | 30,000 | DD/MM/YYYY | By Share Capital A/c | | 150,000 |
| DD/MM/YYYY | To Bank A/c | | 180,000 | DD/MM/YYYY | By Share Premium A/c | | 30,000 |
| DD/MM/YYYY | By Balance c/d | | 0 | | | | |
| | | | | | | | |
| DD/MM/YYYY | To Bank A/c
1. Initial issue of shares:
- Share Capital A/c (15000 shares x Rs 10) Dr. 150,000
- Share Premium A/c (15000 shares x Rs 2) Dr. 30,000
- Bank A/c Cr. 180,000
2. Application money received:
- Bank A/c Dr. 30,000
- Share Application A/c (15000 shares x Rs 2) Cr. 30,000
3. Allotment money received:
- Bank A/c Dr. 30,000
- Share Allotment A/c (15000 shares x Rs 2) Cr. 30,000
4. First call money received:
- Bank A/c Dr. 45,000
- Share First Call A/c (15000 shares x Rs 3) Cr. 45,000
5. Final call money received:
- Bank A/c Dr. 60,000
- Share Final Call A/c (15000 shares x Rs 4) Cr. 60,000
6. Forfeiture of shares not paid for the first call:
- Share First Call A/c (2000 shares x Rs 3) Dr. 6,000
- Share Forfeiture A/c (2000 shares x Rs 10) Dr. 20,000
- Share Capital A/c (2000 shares x Rs 10) Cr. 20,000
- Share Premium A/c (2000 shares x Rs 2) Cr. 4,000
- Share Forfeited A/c (2000 shares x Rs 10) Cr. 6,000
7. Reissue of forfeited shares:
- Bank A/c Dr. 26,000
- Share Forfeited A/c (2000 shares x Rs 10) Cr. 20,000
- Share Capital A/c (2000 shares x Rs 10) Cr. 20,000
- Share Premium A/c (2000 shares x Rs 2) Cr. 6,000
Cash Book Entries:
| Date | Particulars | L.F. | Amount (Rs) | Date | Particulars | L.F. | Amount (Rs) |
|-----------|----------------------------------------------|------|-------------|-----------|---------------------------------------------------|------|-------------|
| DD/MM/YYYY | To Share Capital A/c | | 150,000 | DD/MM/YYYY | By Balance b/d | | 0 |
| DD/MM/YYYY | To Share Premium A/c | | 30,000 | DD/MM/YYYY | By Share Capital A/c | | 150,000 |
| DD/MM/YYYY | To Bank A/c | | 180,000 | DD/MM/YYYY | By Share Premium A/c | | 30,000 |
| DD/MM/YYYY | By Balance c/d | | 0 | | | | |
| | | | | | | | |
| DD/MM/YYYY | To Bank A/c
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Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share...
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Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve
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Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve.
Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve.
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Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve, a detailed solution for Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve has been provided alongside types of Agfa co.Ltd issued 15000 shares of Rs 10 each at premium of Rs 2 share payableRs 3 (incuding premium)per share on application Rs 2 per share on allotment,Rs 3 on first call and Rd 4 on final call.the shares were all subscribed and money was duly received except the first call money on 2000 shares and the final call money on 2500 shares.give the journal and cash book entries to record the above transaction.please solve theory, EduRev gives you an
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