Page 1 :
7) For transfer of share forfeited A/c, Share Forfeited A/c Dr. xxx ., To Capital Reserve A/c 7K aAG, (Being transfer of balance of forfeited shares to Capital Reserve A/c), , ( sence a ble as follows :Medhi Industries Co, Ltd. issued 15,000 Equity shares of %. 100 each, paya cae, On Application : 20, On Allotment : < 30, On First Call : % 25, On Secon 2 _ 25, The Company received applications for 12,000 shares. All the applications were accepted and, shares were allotted. The Company made both the calls. ‘ vere font, One shareholder holding 400 shares failed to pay the final call. His shares we ;, , Pass journal entries in the books of Medhi Industries Co. Ltd., , , , , , , , , , , , Solution : 11 Jouranl of Medhi Industries Co. Ltd. SSS, Date Particulars LF, | DebitAmt@ | Credit Amt |, 1 Bank A/e De a ee 2,40,000, To Equity Share Application A/c eal, (Being share application money received) |, 2 Equity Share Application A/c Dr. 2,40,000 |, To Equity Share Capital A/e 2,40,000, (Being share application money transferred, to Capital a/c) | |, 3 Share Allotment A c Dr. 3,60,000, To Equity Share Capital A/c 3,60,000, (Being share allotment money due), 4 Bank A/c Dr 3,60,000, To Equity Share Allotment A/c 3,60,000, (Being share allotment money received), 2 Equity Share First Call A c Dr. 3,00,000, To Equity Share Capital A/c 3,00,000, (Being share first cal] due), 6 Bank A/c Dr. 3,00,000, To Equity Share First C LA/c 3,00,000, (Being money on first call received ), 7 Equity Share Second Call A/c Dr. 3,00,000 |, To Equity Share C apital A/c 3,00,000 |, (Being Share second call due), 8 Bank A/c Dr. 2,90,000, To Share Second Call A c 2,90,000, (Being share second call received mr, except 400 shares), 9 Share Capital A ic é : Dr. 40,000, To Share Final Call A/c | * 10.000, To Share Forfeited A/c | ‘ 30.000, (Being 400 shares forfeited for | te, non payment of final call), Total, , , , , , 342