ACCOUNTANCY – SHARE CAPITAL WORKSHEET

SOLUTION Q. NO. 11 TO 20
Question No. 11
JOURNAL

R
Date Particular L.F Debit Credit
Bank A/c (10,000 x 2) Dr. 20,000
To Share Application A/c 20,000
(being application money received)
Share Application A/c Dr. 20,000

SI
To Share Capital A/c 20,000
(being application money transfer to capital)
Share Allotment A/c (10,000 x 3) Dr. 30,000
To Share Capital A/c 30,000
(being allotment money due)
Bank A/c Dr. 30,000
To Share Allotment A/c 30,000
(being allotment money received)
Share First Call A/c (10,000 x 3) Dr. 30,000
H
To Share Capital A/c
(being 1st Call money due)
Bank A/c
To Share First Call A/c
Dr. 34,000
30,000

30,000
To Calls in Advance A/c (2,000 x 2) 4,000
(being 1st call money received)
US
Question No. 12
JOURNAL
Date Particular L.F Debit Credit
Equity Share First Call A/c (1,00,000 x 2) Dr. 2,00,000
To Equity Share Capital A/c 2,00,000
(being 1st call money due)
Bank A/c Dr. 2,02,400
AY

To Equity Share First Call A/c 200,000

To Calls in Advance A/c (800 x 3) 2,400
(being 1st call money received)
Equity Share Final Call A/c (1,00,000 x 3) Dr. 3,00,000
To Equity Share Capital A/c 3,00,000
(being final call money due)
Bank A/c Dr. 2,97,600
Calls in Advance A/c Dr. 2,400
To Equity Share Final Call A/c 3,00,000
(being final call money received)

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Question No. 13
JOURNAL
Date Particular L.F. Dr. (Rs.) Cr. (Rs.)
Bank A/c Dr. 1,50,000
To Share Application A/c 1,50,000
(being application money received)
Share Application A/c Dr. 1,50,000

R
To Share Capital A/c 1,50,000
(being application money transfer to capital)
Share Allotment A/c Dr. 2,50,000
To Share Capital A/c 1,50,000
To Security Premium A/c 1,00,000
(being allotment money due)

SI
Bank A/c Dr. 2,62,000
To Share Allotment A/c 2,50,000
To Call in Advance A/c 12,000
(being allotment money received)
Share First Call A/c Dr. 1,50,000
To Share Capital A/c 1,50,000
(being 1st call money due)
Bank A/c Dr. 1,41,000
Calls in Advance A/c Dr. 9,000
To Share First Call A/c 1,50,000
H
(being 1st call money received)
Share Second & Final Call A/c
To Share Capital A/c
(being 2nd & final money due)
Dr. 50,000
50,000

Bank A/c Dr. 47,000

Call in Advance A/c Dr. 3,000
US
To Share Second & Final Call A/c 50,000
(being final call money received)

Question No. 14
JOURNAL
Date Particular L.F. Dr. (Rs.) Cr. (Rs.)
Bank A/c Dr. 20,000
To Share Application A/c 20,000
AY

(being application money received)

Share Application A/c Dr. 20,000
To Share Capital A/c 20,000
(being application money transfer to capital)
Share Allotment A/c Dr. 30,000
To Share Capital A/c 30,000
(being allotment money due)
Bank A/c Dr. 30,000
To Share Allotment A/c 30,000
(being allotment money received)
Share First Call A/c Dr. 30,000
To Share Capital A/c 30,000
(being 1st call money due)
Bank A/c Dr. 30,000
To Share First Call A/c 30,000
st
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 (being 1st call money received)
Share Second & Final Call A/c Dr. 20,000
To Share Capital A/c 20,000
(being 2nd & final call money due)
Bank A/c Dr. 19,000
Call in Arrears A/c Dr. 1,000
To Share Second & Final Call A/c 20,000

R
(being final call money received)

Question No. 15
JOURNAL

SI
Date Particular L.F Debit Credit
Bank A/c (20,000 x 2) Dr. 40,000
To Share Application A/c 40,000
(being application money received)
Share Application A/c Dr. 40,000
To Share Capital A/c 40,000
(being application money transfer to capital)
Share Allotment A/c (20,000 x 5) Dr. 1,00,000
To Share Capital A/c 60,000
H
To Security Premium A/c
(being allotment money due)
Bank A/c
To Share Allotment A/c
Dr. 1,00,000
40,000

1,00,000
(being allotment money received)
Share First Call A/c (20,000 x 2) Dr. 40,000
US
To Share Capital A/c 40,000
(being 1st call money due)
Bank A/c Dr. 38,900
Calls in Arrear A/c (1,000 x 2) Dr. 2,000
To Share First Call A/c 40,000
To Calls in Advance A/c (300 x 3) 900
(being 1st call money received)
AY

Question No. 16
JOURNAL
Date Particular L.F Debit Credit
Bank A/c (20,000 x 3) Dr. 60,000
To Share Application A/c 60,000
(being application money received)
Share Application A/c Dr. 60,000
To Share Capital A/c 60,000
(being application money transfer to capital)
Share Allotment A/c (20,000 x 2) Dr. 40,000
To Share Capital A/c 40,000
(being allotment money due)

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 Bank A/c Dr. 40,000
To Share Allotment A/c 40,000
(being allotment money received)
Share First Call A/c (20,000 x 3) Dr. 60,000
To Share Capital A/c 60,000
(being 1st call money due)
Bank A/c Dr. 42,000

R
Calls in Arrear A/c (10,000 x 3) Dr. 30,000
To Share First Call A/c 60,000
To Calls in Advance A/c (6,000 x 2) 12,000
(being 1st call money received)

SI
Question No. 17
JOURNAL
Date Particular L.F Debit Credit
01-01-14 Equity Share Second and Final Call A/c (50,000 x 2) Dr. 1,00,000
To Share Capital A/c 1,00,000
(being 2nd & final call money due)
H
15-01-14 Bank A/c
Calls in Arrear A/c (100 x 2)
To Equity Share Second and Final Call A/c
(being 2nd & final call money received)
Dr.
Dr.
99,800
200
1,00,000
US
Question No. 18
In the books of XYZ Ltd
Date Particular L.F Debit Credit
Bank A/c (8,000 x 2) Dr. 16,000
To Equity Share Application A/c 16,000
(being application money received on
8,000 shares at Rs. 2 per share)

Equity Share Application A/c Dr. 16,000

AY

To Equity Share Capital A/c 16,000

(Being application money transfer to Share
capital account)

Equity Share Allotment A/c (8,000 x 1) Dr. 8,000

To Equity Share Capital A/c 8,000
(Being Allotment money due on 8,000
share at Rs. 1 per share)

Bank A/c Dr. 7,750

Calls in Arrears A/c (250 x 1) Dr. 250
To Equity Share Allotment A/c 8,000
(Being share allotment money received)

Equity Share First Call A/c Dr. 8,000

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 To Equity Share Capital A/c 8,000
(Being first call money due on
8,000 shares at Rs. 1 per share)

Bank A/c Dr. 7,250

Calls in arrears (750 x 1) Dr. 750
To Equity Share First Call A/c 8,000

R
(Being first call money received
except on 750 shares)

Equity Share Second Call A/c Dr. 8,000

To Equity Share Capital A/c 8,000
(Being first call money due on

SI
8,000 shares at Rs. 1 per share)

Bank A/c Dr. 6,000

Calls in arrears (2000 x 1) Dr. 2,000
To Equity Share Second Call A/c 8,000
(Being second call money received
except on 2,000 shares)

Question No. 19

Date
H In the books of XYZ Ltd
Particular L.F Debit Credit
Bank A/c (16,000 x 2) Dr. 32,000
To Equity Share Application A/c 32,000
US
(being application money received)
Equity Share Application A/c Dr. 32,000
To Equity Share Capital A/c 32,000
(being application money transfer to capital)
Equity Share Allotment A/c (16,000 x 1) Dr. 16,000
To Equity Share Capital A/c 16,000
(being allotment money due)
Bank A/c Dr. 15,500
Calls in Arrears A/c (500 x 1) Dr. 500
To Equity Share Allotment A/c 16,000
(being allotment money received)
AY

Equity Share First Call A/c Dr. 16,000

To Equity Share Capital A/c 16,000
(being 1st call money due)
Bank A/c Dr. 14,500
Calls in arrears A/c (1,500 x 1) Dr. 1,500
To Equity Share First Call A/c 16,000
(being 1st call money received)
Equity Share Second Call A/c Dr. 16,000
To Equity Share Capital A/c 16,000
(being 2nd call money due)
Bank A/c Dr. 12,000
Calls in arrears A/c (4000 x 1) Dr. 4,000
To Equity Share Second Call A/c 16,000
(being 2nd call money received)

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Question No. 20

Journal

Debit Credit

R
Date Particulars L.F. Amount Amount
Rs Rs

2011
Feb 01 Share Application A/c Dr. 40,000
To Share Capital A/c 40,000

SI
(Share application of 40,000
shares at Re 1 each transferred to
Share Capital Account)
Feb 01 Share Allotment A/c Dr. 80,000
To Share Capital A/c 80,000
(Share allotment due on 40,000
shares at Rs 2 each)
Mar 01 Share First Call A/c Dr. 1,20,000
To Share Capital A/c 1,20,000

May 30
H(Share first call due on 40,000
shares at Rs 3 each)
Calls-in-Arrears A/c
To Share First Call A/c
Dr. 300
300
(Share first call outstanding on
100 shares at Rs 3 each)
US
June 01 Share Final Call A/c Dr. 1,60,000
To Share Capital A/c 1,60,000
(Share final call due on 40,000
shares of Rs 4 each)

June 30 Calls-in-Arrears A/c Dr. 1,600

To Share Final Call A/c 1,600
(Share final call outstanding on
400 shares at Rs 4 each)
AY

Books of Kalyan Cotton Mills Ltd.

Cash Book
Date Particular Rs. Date Particular Rs.
2011 2011
Feb 01 Share application 40,000
Feb28 Share allotment 80,000
March 01 Share first call 1,19,700
June 30 Share Final Call 1,58,400 Balance c/d 3,98,100
3,98,100 3,98,100

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