Page 477 - AAAXII

Model Test Papers M.457

Bank A/c ...Dr. 40,000
To Equity Shares Allotment A/c 40,000
(Being the allotment money received)

Equity Shares First and Final Call A/c ...Dr. 5,00,000
To Equity Share Capital A/c 5,00,000
(Being the call money due on 1,00,000 shares)
Bank A/c ...Dr. 3,58,200
To Equity Shares First and Final Call A/c (WN 4) 3,58,200
(Being the receipt of first and final call money except on
600 shares)
Equity Share Capital A/c ...Dr. 6,000
To Equity Shares First and Final Call A/c 1,800
To Forfeited Shares A/c 4,200
(Being 600 shares forfeited due to non-payment of call money)

Bank A/c (600 × ` 9) ...Dr. 5,400
Forfeited Shares A/c (600 × ` 1) ...Dr. 600
To Equity Share Capital A/c 6,000
(Being 600 forfeited shares reissued for ` 9 per share
fully paid-up)

Forfeited Shares A/c ...Dr. 3,600
To Capital Reserve A/c 3,600
(Being the gain (profit) on reissue transferred to Capital Reserve)

BALANCE SHEET OF HIMALAYAS LTD.
as at ...

Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 10,00,000

Note to Accounts
Particulars `
1. Share Capital
Authorised Capital
... Equity Shares of ` 10 each ...
Issued Capital
1,00,000 Equity Shares of ` 10 each 10,00,000
Subscribed Capital
Subscribed and fully paid-up
1,00,000 Equity Shares of ` 10 each 10,00,000