Rohini Company Limited issued 25,000 equity shares of ₹ 100 each payable as follows - Pass Journal Entries in the Books of Rohini Co. Ltd.

 3. Rohini Company Limited issued 25,000 equity shares of ₹ 100 each payable as follows - 

On Application ₹20 
On Allotment ₹30 
On First Call ₹20 
On Second & Final Call ₹30 
Application were received for ₹22,000 equity shares and allotment of shares were made to them. All money was received by the company. 

 
Pass Journal Entries in the Books of Rohini Co. Ltd. 

 

 

 

Solution: 

Journal Entry 

In the Books of Rohini 

Date	Particulars	J.F	Debit ₹	Credit ₹
1.	Bank A/c Dr.  To Equity Share Application A/c  [Being Application money received]		4,40,000	4,40,000
2.	Equity Share Application A/c Dr.  To Equity Share Capital A/c  [Being Equity Share Application money transferred to Equity Share Capital]		4,40,000	4,40,000
3.	Equity Share Allotment A/c Dr.  To Equity Share Capital A/c  [Being Equity Share Allotment money due]		6,60,000	6,60,000
4.	Bank A/c   Dr.  To Equity Share Allotment A/c  [Being Allotment money received]		6,60,000	6,60,000

 

5.	Equity Share First Call A/c     Dr.  To Equity Share Capital A/c  [Being First call money due]		4,40,000	4,40,000
6.	Bank A/c Dr.  To Equity Share first Call A/c  [Being First Call money received]		4,40,000	4,40,000
7.	Equity Share Second & Final Call A/c Dr.  To Equity Share Capital A/c  [Being Second & Final Call due]		6,60,000	6,60,000
8.	Bank A/c Dr.  To Equity Share Second & Final Call A/c  [Being Equity Share Second & First call money received]		6,60,000	6,60,000

 

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