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The document contains journal entries recording transactions related to the issuance and forfeiture of shares by a company. It records the transfer of share application money to share capital and securities premium, allotment of shares, calls made on shares including first and final calls, forfeiture of shares for non-payment, and re-issuance of forfeited shares. Any balance in the share forfeiture account after re-issuance is transferred to capital reserve.
The document contains journal entries recording transactions related to the issuance and forfeiture of shares by a company. It records the transfer of share application money to share capital and securities premium, allotment of shares, calls made on shares including first and final calls, forfeiture of shares for non-payment, and re-issuance of forfeited shares. Any balance in the share forfeiture account after re-issuance is transferred to capital reserve.
The document contains journal entries recording transactions related to the issuance and forfeiture of shares by a company. It records the transfer of share application money to share capital and securities premium, allotment of shares, calls made on shares including first and final calls, forfeiture of shares for non-payment, and re-issuance of forfeited shares. Any balance in the share forfeiture account after re-issuance is transferred to capital reserve.
Debit Credit Date Particulars L.F. Amount Amount Rs Rs
Share Application A/c Dr. 14,400
To Share Capital A/c 10,000 To Securities Premium A/c 2,000 To Share Allotment A/c 2,400 (Share application money of 2,000 shares transferred to Share Capital and Securities Premium at Rs 5 and Re 1 each respectively and Rs 2,400 adjusted on allotment)
Share Allotment A/c Dr. 4,000
To Share Capital A/c 2,000 To Securities Premium A/c 2,000 (Allotment due on 2,000 shares at Rs 2 each including Re 1 premium)
Share First Call A/c Dr. 6,000
To Share Capital A/c 4,000 To Securities Premium A/c 2,000 (First call due on 2,000 shares at Rs 3 each including Re 1 premium)
Share Capital A/c (40 shares × Rs 8) Dr. 320
Securities Premium A/c Dr. 72 To Share Forfeiture A/c 240 To Share Allotment A/c 32 To Share First Call A/c 120 (40 shares of Rs 10 each Rs 8 called with premium forfeited for non-payment of amount due)
Share Final Call A/c Dr. 5,880
To Share Capital A/c 3,920 To Securities Premium A/c 1,960 (Final call due on 1,960 shares at Rs 3 each including Re 1 premium)
Share Capital A/c Dr. 600
Securities Premium A/c Dr. 120 To Share Forfeiture A/c 360 To Share First Call A/c 360 (60 shares forfeited for non-payment of amount due) Bank A/c Dr. 720 Share Forfeiture A/c Dr. 80 To Shares Capital A/c 800 (80 shares of Rs 10 each re-issued at Rs 9 per share fully paid- up)
Share Forfeiture A/c Dr. 400
To Capital Reserve 400 (Balance of 80 reissued shares in Share Forfeiture Account transferred to Capital Reserve)