Page 184 - ISCDEBK-12

7.20 Double Entry Book Keeping (Section A)—ISC XII

Bank A/c (49,750 × ` 5) ...Dr. 2,48,750
Calls-in-Arrears A/c (250 × ` 5) ...Dr. 1,250
To Equity Shares First Call A/c 2,50,000
(Being the first and final call money received except on 250 shares)

Equity Share Capital A/c (100 × ` 15) ...Dr. 1,500
Securities Premium Reserve A/c (100 × ` 4) ...Dr. 400
To Forfeited Shares A/c 600
To Calls-in-Arrears A/c (` 800 + ` 500) 1,300
(Being 100 shares forfeited for non-payment of allotment and
first call money)
Equity Shares Second and Final Call A/c (49,900 × ` 5) ...Dr. 2,49,500
To Equity Share Capital A/c 2,49,500
(Being the second and final call money due)
Bank A/c (49,750 × ` 5) ...Dr. 2,48,750
Calls-in-Arrears A/c (150 × ` 5) ...Dr. 750
To Equity Shares Second and Final Call A/c 2,49,500
(Being the second and final call money received on 49,750
shares @ ` 5 per share)
Equity Share Capital A/c (150 × ` 20) ...Dr. 3,000
To Calls-in-Arrears A/c (` 750 + ` 750) 1,500
To Forfeited Shares A/c (` 750 + ` 750) 1,500
(Being 150 shares forfeited for non-payment of both the calls)

Bank A/c (200 × ` 16) ...Dr. 3,200
Forfeited Shares A/c (200 × ` 4) ...Dr. 800
To Equity Share Capital A/c 4,000
(Being the reissue of 200 equity shares credited as fully paid at
` 16 per share)
Forfeited Shares A/c ...Dr. 800
To Capital Reserve A/c 800
(Being the gain on reissue of 200 shares transferred
to Capital Reserve)

BALANCE SHEET OF DAKSH LTD.
as at ...
Particulars Note No. `

I. EQUITY AND LIABILITIES
Shareholders’ Funds
(a) Share Capital 1 9,99,500
(b) Reserves and Surplus 2 2,00,400
Total 11,99,900
II. ASSETS
Current Assets
Cash and Bank Balances 3 11,99,900