Page 226 - MA-12

Final Accounts of Companies—Application of Schedule III, Part I... 9.15

Preference Shares First and Final Call A/c ...Dr. 5,00,000
To 10% Preference Share Capital A/c 5,00,000
(Being the first and final call due on 10% Preference Shares @ ` 20 each)

Bank A/c (WN 2) ...Dr. 3,94,000
Calls-in-Arrears A/c (WN 2) ...Dr. 6,000
To Equity Shares First and Final Call A/c 4,00,000
(Being the first and final call amount received except on 3,000 Equity Shares)
Bank A/c ...Dr. 4,70,000
Calls-in-Advance A/c ...Dr. 10,000
Calls-in-Arrears A/c (1,000 × ` 20) ...Dr. 20,000
To Preference Shares First and Final Call A/c 5,00,000
(Being the amount received and Calls-in-Advance adjusted, amount
was not received on 1,000, 10% Preference Shares)
Equity Share Capital A/c ...Dr. 10,000
Securities Premium Reserve A/c ...Dr. 500
To Calls-in-Arrears A/c 2,500
To Forfeited Shares A/c 8,000
(Being 1,000 Equity Shares of Anil forfeited for non-payment of
allotment money and first and final call)
Bank A/c ...Dr. 7,500
To Equity Share Capital A/c 5,000
To Securities Premium Reserve A/c 2,500
(Being 500 Equity Shares reissued at premium of ` 5 per share)
Forfeited Shares A/c ...Dr. 4,000
To Capital Reserve A/c 4,000
(Being the gain on reissue transferred to Capital Reserve after reissue)
Dr. BANK ACCOUNT Cr.
Particulars ` Particulars `

To Balance b/d 10,00,000 By Preference Shares Application A/c 7,50,000
To Equity Shares Application A/c 25,00,000 By Excel Ltd. 50,000
To Preference Shares Application A/c 20,00,000 By Balance c/d 64,31,000
To Equity Shares Allotment A/c 99,500
To Preference Shares Allotment A/c 7,50,000
To Calls-in-Advance A/c 10,000
To Equity Shares First and Final Call A/c 3,94,000
To Preference Shares F and F Call A/c 4,70,000
To Equity Share Capital A/c 5,000
To Securities Premium Reserve A/c 2,500
72,31,000 72,31,000