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M.164 An Aid to Accountancy—CBSE XII

BALANCE SHEET as at 31st March, 2018
Liabilities ` Assets `
Subscription Received in Advance 750 Cash in Hand 25,500
Creditors 5,500 Outstanding Subscription 750
Capital Fund 58,500 Fixed Deposits 25,000
Add: Surplus 24,750 83,250 Accrued Interest on Fixed Deposits 250
Stock of Consumable Stores 7,000
Utensils 8,000
Add: New Purchases 2,000
10,000
Less: Depreciation 1,500 8,500
Furniture 25,000
Less: Depreciation 2,500 22,500
89,500 89,500
Working Note:
Calculation of Opening Capital Fund:
BALANCE SHEET as at 1st April, 2017
Liabilities ` Assets `
Creditors 12,000 Cash in Hand 33,500
Capital Fund (Balancing Figure) 58,500 Outstanding Subscription 500
Stock of Consumable Stores 3,500
Utensils 8,000
Furniture 25,000
70,500 70,500

16. JOURNAL OF BHARAT LTD.
Date Particulars L.F. Dr. (`) Cr. (`)
Bank A/c ...Dr. 2,25,000
To Shares Application A/c 2,25,000
(Being the application money received)
Shares Application A/c ...Dr. 2,25,000
To Share Capital A/c 1,50,000
To Shares Allotment A/c 75,000
(Being the application money transferred to Share Capital Account
and excess money adjusted to allotment)
Shares Allotment A/c ...Dr. 3,00,000
To Share Capital A/c 2,00,000
To Securities Premium Reserve A/c 1,00,000
(Being the allotment money due)
Bank A/c ...Dr. 2,20,500
To Shares Allotment A/c (WN (3)) 2,20,500
Or
Bank A/c ...Dr. 2,20,500
Calls-in-Arrears A/c ...Dr. 4,500
To Shares Allotment A/c 2,25,000
(Being the allotment money received except on 900 shares)