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M.300 An Aid to Accountancy—CBSE XII

Bank A/c ...Dr. 97,400
To Equity Shares First Call A/c 97,400
Or
Bank A/c ...Dr. 97,400
Calls-in-Arrears A/c ...Dr. 2,600
To Equity Shares First Call A/c 1,00,000
(Being the shares first call received except on 500 shares)
Equity Share Capital A/c ...Dr. 4,000
Securities Premium Reserve A/c ...Dr. 1,000
To Forfeited Shares A/c 1,800
To Equity Shares Allotment A/c 2,200
To Equity Shares First Call A/c 1,000
Or
Equity Share Capital A/c ...Dr. 4,000
Securities Premium Reserve A/c ...Dr. 1,000
To Forfeited Shares A/c 1,800
To Calls-in-Arrears A/c 3,200
(Being 500 shares forfeited for non-payment of allotment and
first call money)
Equity Shares Second and Final Call A/c ...Dr. 99,000
To Equity Share Capital A/c 99,000
(Being the second and final call due on 49,500 shares @ ` 2 each)
Bank A/c ...Dr. 97,400
To Equity Shares Second and Final Call A/c 97,400
Or
Bank A/c ...Dr. 97,400
Calls-in-Arrears A/c ...Dr. 1,600
To Equity Shares Second and Final Call A/c 99,000
(Being the second and final call received except on 800 shares)
Equity Share Capital A/c ...Dr. 8,000
To Forfeited Shares A/c 4,800
To Equity Shares First Call A/c 1,600
To Equity Shares Second and Final Call A/c 1,600
Or
Equity Share Capital A/c ...Dr. 8,000
To Forfeited Shares A/c 4,800
To Call-in-Arrears A/c 3,200
(Being 800 shares forfeited for non-payment of both the calls)
Bank A/c ...Dr. 9,000
Forfeited Shares A/c ...Dr. 1,000
To Equity Share Capital A/c 10,000
(Being 1,000 forfeited shares reissued at ` 9 per share as fully paid)
Forfeited Shares A/c ...Dr. 4,520
To Capital Reserve A/c 4,520
(Being the gain on reissue transferred to Capital Reserve)