Page 191 - ISCDEBK-12

Joint Stock Company—Issue of Shares 7.27

Shares Allotment A/c ...Dr. 5,00,000
To Share Capital A/c 3,00,000
To Securities Premium Reserve A/c 2,00,000
(Being the allotment money due including premium
of ` 2 per share)

Bank A/c (WN 2) ...Dr. 3,00,000
Calls-in-Arrears A/c (WN 1 (i), (ii)) ...Dr. 9,000
To Shares Allotment A/c 3,00,000
To Calls-in-Advance A/c 9,000
(Being the Calls-in-Advance adjusted and balance received except
on 1,000 shares)

Shares First and Final Call A/c ...Dr. 3,00,000
To Share Capital A/c 3,00,000
(Being the first and final call money due)
Bank A/c (WN) ...Dr. 2,82,000
Calls-in-Arrears A/c (WN 4) ...Dr. 9,000
Calls-in-Advance A/c ...Dr. 9,000
To Shares First and Final Call A/c 3,00,000
(Being the amount due on first and final call adjusted and balance
amount received except on 3,000 shares)
Bank A/c (WN 5) ...Dr. 6,300
To Calls-in-Arrears A/c 6,000
To Interest on Calls-in-Arrears A/c 300
(Being the due amount received from Anil on 1,000 shares
along with interest)

Share Capital A/c (2,000 × ` 10) ...Dr. 20,000
Securities Premium Reserve A/c ...Dr. 4,000
To Forfeited Shares A/c 12,000
To Calls-in-Arrears A/c 12,000
(Being 2,000 shares of Amit forfeited)

Bank A/c ...Dr. 9,000
Forfeited Shares A/c ...Dr. 1,000
To Share Capital A/c 10,000
(Being 1,000 shares out of 2,000 forfeited shares reissued)
Forfeited Shares A/c ...Dr. 5,000
To Capital Reserve A/c 5,000
(Being the gain on 1,000 reissued shares transferred to Capital Reserve)
Interest on Calls-in-Advance A/c ...Dr. 300
To Bank A/c 300
(Being the interest paid on Calls-in-Advance)