Solution for Q 111 to 115 of Chapter 1 of Book 2 - Accounting for Companies of T S Grewal Class 12 Accountancy 2026-27 are given below. The Chapter name is Accounting for share capital class 12 or Issue of Shares. These Solutions are based on topics oversubscription and multiple categories of pro rata allotment, calculation of shares applied and shares allotted in case of multiple categories of pro rata allotment, calculation of calls in arrears and forfeiture and reissue of shares for shareholders under different categories of pro rata allottment, calculation of capital reserve in case where number of shares forfeited and number of shares reissued are different.
Working notes are given with each solution. These help in understanding the steps and are also important for board exams as marks are given for steps.
These solutions are also useful for CA Foundation, CS Foundation and CMA Foundation students. The solutions will be helpful for students as well as teachers teaching class 12 accounts.
Question 111
| In the books of Nitro Paints Ltd |
| Journal |
| Particulars |
|
|
|
|
Dr |
Cr |
Shares |
Per share |
| Bank A/c Dr.. |
|
1080000 |
|
180000 |
6 |
| To Equity Share Application A/c |
|
|
1080000 |
|
|
| ( Being share application money received for |
|
|
|
|
|
| 180000 shares @ Rs 6 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share Application A/c |
|
1080000 |
|
|
|
| To Equity Share Capital A/c |
|
|
800000 |
160000 |
5 |
| To Securities Premium Reserve A/c |
|
|
160000 |
160000 |
1 |
| To Equity Share Allotment A/c |
|
|
60000 |
10000 |
6 |
| To Bank A/c |
|
|
60000 |
10000 |
6 |
| ( Being share application money received for 160000 |
|
|
|
|
|
| shares transferred to Share Capital A/c @ Rs 5 per |
|
|
|
|
|
| share and Securities Premium Reserve A/c @ Rs 1 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share Allotment A/c |
|
480000 |
|
160000 |
|
| To Equity Share Capital A/c |
|
|
320000 |
|
2 |
| To Securities Premium Reserve A/c |
|
|
160000 |
|
1 |
| ( Being share allotment money for 160000 shares |
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 2 per share |
|
|
|
|
|
| and Securities Premium Reserve A/c @ Rs 1 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c |
|
411600 |
|
|
|
| To Equity Share Allotment A/c |
|
|
411600 |
|
|
| |
|
|
|
|
|
|
|
|
| (Being amount received on share allotment) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share 1st Call A/c |
|
640000 |
|
160000 |
|
| To Equity Share Capital A/c |
|
|
480000 |
|
3 |
| To Securities Premium Reserve A/c |
|
|
160000 |
|
1 |
| ( Being share 1st Call money for 160000 shares |
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 3 per share |
|
|
|
|
|
| and Securities Premium Reserve A/c @ Rs 1 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
627200 |
|
|
|
| |
|
|
|
|
|
|
|
|
| To Equity Share 1st Call A/c |
|
|
627200 |
|
|
| (Being amount received on share 1st and Final call) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
32000 |
|
3200 |
10 |
| Securities Premium Reserve A/c Dr.. |
|
6400 |
|
|
|
| To Forfeited Shares A/c |
|
|
17200 |
3200 |
8 |
| To Equity share Allotment A/c |
|
|
8400 |
|
|
| To Equity share 1st and Final Call A/c |
|
|
12800 |
|
|
| (Being 3200 shares forfeited) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
43000 |
|
1600 |
26.9 |
| Forfeited Shares A/c Dr… |
|
0 |
|
1600 |
0 |
| To Share Capital A/c |
|
|
16000 |
1600 |
10 |
| To Securities Premium Reserve A/c |
|
|
27000 |
1600 |
16.9 |
| (Being 1600 shares reissued) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Forfeited Shares A/c Dr.. |
|
8600 |
|
|
|
| To Capital Reserve A/c |
|
|
8600 |
|
|
| (Being balance in Forfeited Shares A/c transferred |
|
|
|
|
|
| to Capital Reserve) |
|
|
|
|
|
|
|
|
| Note : Calculation of Calls in Arrears for Aditya |
| Description |
|
|
|
3400 |
|
|
|
|
| Shares Applied |
|
3200 |
|
|
|
|
| Shares alloted |
|
|
|
20400 |
|
|
|
|
| Application Money |
|
|
|
Capital |
Premium |
|
|
|
| Due on Application |
|
16000 |
3200 |
|
|
|
| Paid/Adjusted |
|
16000 |
3200 |
|
|
|
| Excess on application |
|
1200 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Due on Allotment |
|
6400 |
3200 |
|
|
|
| Paid/Adjusted |
|
1200 |
|
|
|
|
| Arrears on Allotment |
|
5200 |
3200 |
|
|
|
| |
|
|
|
|
|
|
|
|
| Due on 1st and Final Call |
|
9600 |
3200 |
|
|
|
| Paid/Adjusted |
|
0 |
|
|
|
|
| Calls in Arrears |
|
|
|
9600 |
3200 |
|
|
|
| Note : Calculation of amount received on Allotment |
|
|
|
|
|
|
|
|
| Total Amount due on allotment |
|
|
|
480000 |
|
|
|
|
| Less - Received in advance |
|
60000 |
|
|
|
|
| Less - Calls in arrears of Aditya |
|
|
|
8400 |
|
|
|
|
| Amount Received on allotment |
|
|
|
411600 |
|
|
|
|
| Note : Calculation of amount received on 1st Call |
|
|
|
|
|
|
|
|
| Total Amount due on 1st Call |
|
|
|
640000 |
|
|
|
|
| Less - Received in advance |
|
0 |
|
|
|
|
| Less - Calls in Arrears |
|
12800 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Amount received on 1st Call |
|
|
|
627200 |
|
|
|
|
▶ Video Solution: Coming Soon
Question 112
| In the books of XYZ Ltd |
| Journal |
| Particulars |
|
|
|
|
Dr |
Cr |
Shares |
Per share |
| Bank A/c Dr.. |
|
225000 |
|
75000 |
3 |
| To Equity Share Application A/c |
|
|
225000 |
|
|
| ( Being share application money received for |
|
|
|
|
|
| 75000 shares @ Rs 3 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share Application A/c |
|
225000 |
|
alloted |
|
| To Equity Share Capital A/c |
|
|
150000 |
50000 |
3 |
| To Equity Share Allotment A/c |
|
|
75000 |
25000 |
3 |
| ( Being share application money received for 50000 |
|
|
|
|
|
| shares transferred to Share Capital A/c @ Rs 3 per share |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share Allotment A/c |
|
200000 |
|
50000 |
|
| To Equity Share Capital A/c |
|
|
200000 |
|
4 |
| ( Being share allotment money for 50000 shares |
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 4 per share |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c |
|
121400 |
|
|
|
| To Equity Share Allotment A/c |
|
|
121400 |
|
|
| |
|
|
|
|
|
|
|
|
| (Being amount received on share allotment) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
8400 |
|
1200 |
7 |
| To Forfeited Shares A/c |
|
|
4800 |
|
|
| To Equity share Allotment A/c/ Calls in Arrears |
|
|
3600 |
|
|
| |
|
|
|
|
|
|
|
|
| (Being 1200 shares forfeited) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share 1st Call A/c |
|
146400 |
|
48800 |
|
| To Equity Share Capital A/c |
|
|
146400 |
|
3 |
| |
|
|
|
|
|
|
|
|
| ( Being share 1st Call money for 48800 shares |
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 3 per share |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
145200 |
|
|
|
| |
|
|
|
|
|
|
|
|
| To Equity Share 1st Call A/c |
|
|
145200 |
|
|
| (Being amount received on share 1st and Final call) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
4000 |
|
400 |
10 |
| To Forfeited Shares A/c |
|
|
2800 |
400 |
7 |
| To Equity share 1st Call A/c |
|
|
1200 |
400 |
3 |
| |
|
|
|
|
|
|
|
|
| (Being 400 shares forfeited) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
8000 |
|
1000 |
8 |
| Forfeited Shares A/c Dr… |
|
2000 |
|
1000 |
2 |
| To Share Capital A/c |
|
|
10000 |
1000 |
10 |
| (Being 1000 shares reissued) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Forfeited Shares A/c Dr.. |
|
3200 |
|
|
|
| To Capital Reserve A/c |
|
|
3200 |
|
|
| (Being balance in Forfeited Shares A/c transferred to Capital Reserve) |
|
|
|
|
|
|
|
|
| Note : Amount transferred to Capital Reserve |
| |
| Description |
|
|
|
Ramu |
Shamu |
Total |
|
|
| No of shares forfeited |
|
1200 |
400 |
1600 |
|
|
| Amount paid on forfeited shares |
|
4800 |
2800 |
7600 |
(see from forfeiture entry) |
|
| Amount paid per share |
|
4 |
7 |
|
|
|
| |
|
|
|
(4800/1200) |
(2800/400) |
|
|
|
| No of shares reissued |
|
600 |
400 |
1000 |
(question) |
|
| Amount paid on shares reissued |
|
2400 |
2800 |
5200 |
|
|
| |
|
|
|
(600*4) |
(400*7) |
|
|
|
| Less - Discount on reissue |
|
|
|
2000 |
(reissue) |
|
| |
|
|
|
|
|
|
|
|
| Amount transferred to Capital Reserve |
|
|
|
|
|
3200 |
(5200-2000) |
|
| Note : Pro Rata |
|
|
|
|
|
|
|
|
| Category |
|
Category 1 |
Category 2 |
Total |
|
|
|
|
| Applied |
|
40000 |
35000 |
75000 |
|
|
|
|
| Allotted |
|
30000 |
20000 |
50000 |
|
|
|
|
| Rejected |
|
10000 |
15000 |
25000 |
|
|
|
|
| Note : Calculation of Calls in Arrears for Ramu |
| Description |
|
|
|
Ramu |
Shamu |
|
|
|
| Shares Applied |
|
1600 |
700 |
|
|
|
| Shares alloted |
|
1200 |
400 |
|
|
|
| Application Money |
|
4800 |
|
|
|
|
| |
|
|
|
Capital |
|
|
|
|
| Due on Application |
|
3600 |
|
|
|
|
| Paid/Adjusted |
|
3600 |
|
|
|
|
| Excess |
|
1200 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Due on Allotment |
|
4800 |
|
|
|
|
| Paid/Adjusted |
|
1200 |
0 |
|
|
|
| Arrears on Allotment |
|
|
|
3600 |
0 |
|
|
|
| Note : Amount received on Allotment |
|
|
|
|
|
|
|
|
| Total Amount due on allotment |
|
|
|
200000 |
|
|
|
|
| Less - Received in advance |
|
75000 |
|
|
|
|
| Less - Calls in arrears |
|
3600 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Amount Received |
|
|
|
121400 |
|
|
|
|
| Note : Amount received on 1st Call |
|
|
|
|
|
|
|
|
| Total Amount due on 1st Call |
|
|
|
146400 |
|
|
|
|
| Less - Received in advance |
|
0 |
|
|
|
|
| Less - Calls in Arrears for Shamu |
|
1200 |
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Amount received on 1st Call |
|
|
|
145200 |
|
|
|
|
▶ Video Solution: Coming Soon
Question 113
| In the books of Konark Ltd |
| Journal |
| Particulars |
|
|
|
|
Dr |
Cr |
Shares |
Per share |
| Bank A/c Dr.. |
|
1200000 |
|
400000 |
3 |
| To Equity Share Application A/c |
|
|
1200000 |
|
|
| ( Being share application money received for |
|
|
|
|
|
| 400000 shares @ Rs 3 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share Application A/c |
|
1200000 |
|
|
|
| To Equity Share Capital A/c |
|
|
900000 |
300000 |
3 |
| To Equity Share Allotment A/c |
|
|
300000 |
100000 |
3 |
| |
|
|
|
|
|
|
|
|
| ( Being share application money received for 300000 |
|
|
|
|
|
| shares transferred to Share Capital A/c @ Rs 3 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share Allotment A/c |
|
900000 |
|
300000 |
|
| To Equity Share Capital A/c |
|
|
900000 |
|
3 |
| |
|
|
|
|
|
0 |
|
|
| ( Being share allotment money for 300000 shares |
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 3 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c |
|
634000 |
|
|
|
| To Equity Share Allotment A/c |
|
|
594000 |
|
|
| To Calls in Advance A/c |
|
|
40000 |
|
|
| (Being amount received on share allotment) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Equity Share 1st Call A/c |
|
1200000 |
|
300000 |
|
| To Equity Share Capital A/c |
|
|
1200000 |
|
4 |
| |
|
|
|
|
|
0 |
|
|
| ( Being share 1st Call money for 300000 shares |
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 4 per share) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
1144000 |
|
|
|
| Calls in Advance A/c Dr.. |
|
40000 |
|
|
|
| To Equity Share 1st Call A/c |
|
|
1184000 |
|
|
| (Being amount received on share 1st call) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
40000 |
|
4000 |
10 |
| |
|
|
|
|
|
|
|
|
| To Forfeited Shares A/c |
|
|
18000 |
|
|
| To Equity share Allotment A/c |
|
|
6000 |
|
|
| To Equity share 1st Call A/c |
|
|
16000 |
|
|
| (Being 4000 shares forfeited) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
20000 |
|
2000 |
10 |
| Forfeited Shares A/c Dr… |
|
0 |
|
|
|
| To Share Capital A/c |
|
|
20000 |
2000 |
10 |
| (Being 2000 shares reissued) |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Forfeited Shares A/c Dr.. |
|
9000 |
|
|
|
| To Capital Reserve A/c |
|
|
9000 |
|
|
| (Being balance in Forfeited Shares A/c |
|
|
|
|
|
| transferred to Capital Reserve) |
|
|
|
|
|
|
|
|
| |
|
Cat1 |
Cat2 |
Cat3 |
Total |
|
|
|
| Applied |
|
240000 |
120000 |
40000 |
400000 |
|
|
|
| Allotted |
|
200000 |
80000 |
20000 |
300000 |
|
|
|
| Rejected |
|
40000 |
40000 |
20000 |
100000 |
|
|
|
| Note : Calculation of Calls in Arrears for Divij |
| Description |
|
|
Divij |
|
|
|
|
|
| Shares Applied |
|
6000 |
|
|
|
|
|
| Shares alloted |
|
4000 |
|
|
|
|
|
| Application Money |
|
18000 |
|
|
|
|
|
| |
|
|
Capital |
|
|
|
|
|
| Due on Application |
|
12000 |
|
|
|
|
|
| Paid/Adjusted |
|
12000 |
|
|
|
|
|
| Excess |
|
6000 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Due on Allotment |
|
12000 |
|
|
|
|
|
| Paid/Adjusted |
|
6000 |
|
|
|
|
|
| Arrears on Allotment |
|
6000 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Due on 1st Call |
|
16000 |
|
|
|
|
|
| Paid/Adjusted |
|
0 |
|
|
|
|
|
| Calls in Arrears |
|
16000 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Note : Amount received on Allotment |
|
|
|
|
|
|
|
|
| Total Amount due on allotment |
|
|
|
900000 |
|
|
|
|
| Less - Received in advance |
|
300000 |
|
|
|
|
| Less - Calls in arrears for Divij |
|
6000 |
|
|
|
|
| Add - Calls in Advance of Faisal |
|
40000 |
|
|
|
|
| Amount Received |
|
|
|
634000 |
|
|
|
|
| Note : Amount received on 1st Call |
|
|
|
|
|
|
|
|
| Total Amount due on 1st Call |
|
|
|
1200000 |
|
|
|
|
| Less - Received in advance |
|
40000 |
|
|
|
|
| Less - Calls in arrears for Divij |
|
16000 |
|
|
|
|
| Amount received on 1st Call |
|
|
|
1144000 |
|
|
|
|
▶ Video Solution: Coming Soon
Question 114
| In the books of Max Ltd |
| Journal |
| Particulars |
|
|
|
|
Dr |
Cr |
Shares |
Per share |
|
| Bank A/c Dr.. |
|
1200000 |
|
240000 |
5 |
|
| To Equity Share Application A/c |
|
|
1200000 |
|
|
|
| ( Being share application money received for |
|
|
|
|
|
|
| 240000 shares @ Rs 5 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share Application A/c |
|
1200000 |
|
|
|
|
| To Equity Share Capital A/c |
|
|
1000000 |
200000 |
5 |
|
| To Equity Share Allotment A/c |
|
|
200000 |
40000 |
5 |
|
| |
|
|
|
|
|
|
|
|
|
| ( Being share application money received for 200000 |
|
|
|
|
|
|
| shares transferred to Share Capital A/c @ Rs 5 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share Allotment A/c |
|
800000 |
|
200000 |
|
|
| To Equity Share Capital A/c |
|
|
400000 |
|
2 |
|
| To Securities Premium Reserve A/c |
|
|
400000 |
|
2 |
|
| ( Being share allotment money for 200000 shares |
|
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 2 per share |
|
|
|
|
|
|
| and Securities Premium Reserve A/c @ Rs 2 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c |
|
593900 |
|
|
|
|
| To Equity Share Allotment A/c |
|
|
593900 |
0 |
|
|
| (Being amount received on share allotment) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share 1st Call A/c |
|
400000 |
|
200000 |
|
|
| To Equity Share Capital A/c |
|
|
400000 |
|
2 |
|
| |
|
|
|
|
|
0 |
|
|
|
| ( Being share 1st Call money for 200000 shares |
|
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 2 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
393800 |
|
|
|
|
| To Equity Share 1st Call A/c |
|
|
393800 |
|
|
|
| (Being amount received on share 1st call) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
9000 |
|
1000 |
9 |
|
| Security Premium Reserve A/c Dr.. |
|
2000 |
|
1000 |
2 |
|
| To Forfeited Shares A/c |
|
|
5000 |
1000 |
5 |
|
| To Equity share Allotment A/c |
|
|
4000 |
1000 |
4 |
|
| To Equity share 1st Call A/c |
|
|
2000 |
1000 |
2 |
|
| (Being 1000 shares forfeited) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
8100 |
|
900 |
9 |
|
| Securities Premium Reserve A/c Dr.. |
|
1800 |
|
|
|
|
| To Forfeited Shares A/c |
|
|
6000 |
|
|
|
| To Equity share Allotment A/c |
|
|
2100 |
|
|
|
| To Equity share 1st Call A/c |
|
|
1800 |
|
|
|
| (Being 900 shares forfeited) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share 2nd and Final Call A/c |
|
198100 |
|
198100 |
|
|
| To Equity Share Capital A/c |
|
|
198100 |
|
1 |
|
| |
|
|
|
|
|
|
|
|
|
| (Being share 2nd call due) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
196900 |
|
|
|
|
| To Equity Share 2nd and Final Call A/c |
|
|
196900 |
|
|
|
| (Being amount received on share 2nd and Final call) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
12000 |
|
1200 |
10 |
|
| To Forfeited Shares A/c |
|
|
8400 |
1200 |
7 |
|
| To Equity share 1st Call A/c |
|
|
2400 |
1200 |
2 |
|
| To Equity share 2nd and Final Call A/c |
|
|
1200 |
1200 |
1 |
|
| (Being 1200 shares forfeited) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
10400 |
|
1300 |
8 |
|
| Forfeited Shares A/c Dr… |
|
2600 |
|
1300 |
2 |
|
| To Share Capital A/c |
|
|
13000 |
1300 |
10 |
|
| (Being 1300 shares reissued) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Forfeited Shares A/c Dr.. |
|
4400 |
|
|
|
|
| To Capital Reserve A/c |
|
|
4400 |
|
|
|
| (Being balance in Forfeited Shares A/c transferred |
|
|
|
|
|
|
| to Capital Reserve) |
|
|
|
|
|
|
|
|
|
| Note : |
| Amount transferred to Capital Reserve |
| Category |
|
|
|
Category 1 |
Category 2 |
Total |
|
|
|
| No of shares forfeited |
|
1000 |
900 |
1900 |
|
|
|
| Amount paid on forfeited shares |
|
5000 |
6000 |
11000 |
|
|
|
| |
|
|
|
5 |
20/3 |
|
|
|
|
| No of shares reissued |
|
1000 |
300 |
1300 |
|
|
|
| Amount paid on shares reissued |
|
5000 |
2000 |
7000 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Less - Discount on reissue |
|
|
|
2600 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Amount transferred to Capital Reserve |
|
|
|
|
|
4400 |
|
|
|
| Shares Applied |
|
|
|
1200 |
|
|
|
|
|
| Shares alloted |
|
900 |
|
|
|
|
|
| Application Money |
|
|
|
6000 |
|
|
|
|
|
| |
|
|
|
FV |
Premium |
|
|
|
|
| Application money due |
|
4500 |
|
|
|
|
|
| Paid/Adjusted |
|
4500 |
|
|
|
|
|
| Excess |
|
1500 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Due on Allotment |
|
1800 |
1800 |
|
|
|
|
| Paid/Adjusted |
|
1500 |
0 |
|
|
|
|
| Arrears on Allotment |
|
300 |
1800 |
|
|
|
|
| Excess on Allotment |
|
0 |
0 |
|
|
|
|
| Paid on Allotment |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Due on 1st Call |
|
1800 |
|
|
|
|
|
| Paid/Adjusted |
|
0 |
|
|
|
|
|
| Arrears 1st Call |
|
1800 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Note : Amount received on Allotment |
|
|
|
|
|
|
|
|
|
| Total Amount due on allotment |
|
|
|
800000 |
|
|
|
|
|
| Less - Received in advance |
|
200000 |
|
|
|
|
|
| Less - Calls in arrears |
|
|
|
|
|
|
|
| Category (i) |
|
4000 |
|
|
|
|
|
| Category (ii) |
|
2100 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Amount Received on allotment |
|
|
|
593900 |
|
|
|
|
|
| Note : Amount received on 1st Call |
|
|
|
|
|
|
|
|
|
| Total Amount due on 1st Call |
|
|
|
400000 |
|
|
|
|
|
| Less - Received in advance |
|
0 |
|
|
|
|
|
| Less - Calls in Arrears |
|
|
|
|
|
|
|
| Category (i) |
|
2000 |
|
|
|
|
|
| Category (ii) |
|
1800 |
|
|
|
|
|
| Category (iii) |
|
2400 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Amount received on 1st Call |
|
|
|
393800 |
|
|
|
|
|
| Amount received on 2nd Call |
|
|
|
|
|
|
|
|
|
| Total Amount due on 2nd Call |
|
|
|
198100 |
|
|
|
|
|
| Less - Received in advance |
|
0 |
|
|
|
|
|
| Less - Calls in arrears |
|
|
|
|
|
|
|
| Category (iii) |
|
1200 |
|
|
|
|
|
| Amount received on 2nd Call |
|
|
|
196900 |
|
|
|
|
|
| Max Ltd. |
| Balance Sheet as at …... |
| |
Particulars |
|
|
|
|
Note No |
Rs |
|
|
| I |
Equity and Liabilities |
|
|
|
|
|
| |
Shareholders Funds |
|
|
|
|
|
| |
(a) Share Capital |
|
1 |
1994400 |
|
|
| |
(b) Reserves and Surplus |
|
2 |
400600 |
|
|
| |
Current Liabilities |
|
|
|
|
|
| |
Other Current Liabilities |
|
|
|
|
|
| |
Total |
|
|
2395000 |
|
|
| |
|
|
|
|
|
|
|
|
|
| II |
Assets |
|
|
|
|
|
| |
Tangible Assets |
|
|
|
|
|
| |
Building |
|
3 |
0 |
|
|
| |
Current Assets |
|
|
|
|
|
| |
Cash and Cash Equivalents |
|
4 |
2395000 |
|
|
| |
Total |
|
|
|
|
|
2395000 |
|
|
| |
Notes to Accounts |
|
|
|
|
|
Amount |
Shares |
Per share |
| |
|
|
|
|
|
|
|
|
|
| 1 |
Share Capital |
|
|
|
|
| |
Authorised Capital |
|
|
|
|
| |
Equity Shares of Rs each |
|
0 |
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
Issued Capital |
|
|
|
|
| |
200000 Equity Shares of Rs 10 each |
|
2000000 |
200000 |
10 |
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
2000000 |
|
|
| |
Subscribed Capital |
|
|
|
|
| |
Subscribed and Fully Paid Up |
|
|
|
|
| |
198200 Equity Shares of Rs 10 each |
|
1982000 |
198200 |
10 |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
1982000 |
|
|
| |
Subscribed but not Fully Paid Up |
|
|
|
|
| |
Equity Shares of Rs each Rs called Up |
|
0 |
|
|
| |
Less - Calls in Arrears |
|
0 |
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Add - Forefeited Shares |
|
12400 |
|
|
| |
Amount to be shown in the Balance Sheet against Share |
|
1994400 |
|
|
| |
Capital |
|
|
|
|
| 2 |
Reserves and Surplus |
|
|
|
|
| |
Securities Premium Reserve A/c |
|
396200 |
198100 |
2 |
| |
Capital Reserve |
|
4400 |
|
|
| |
Total |
|
400600 |
|
|
| |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible Assets |
|
|
|
|
| |
Building |
|
|
|
|
| 4 |
Cash and Cash Equivalents |
|
|
|
|
| |
Cash at Bank |
|
|
|
|
|
2395000 |
|
|
| Cash A/c |
|
|
|
|
|
|
|
|
|
| Date |
Particulars |
|
|
Amount |
Date |
Particulars |
|
|
Amount |
| |
To Equity Share Application A/c |
|
|
1200000 |
|
By Balance C/d |
|
|
2395000 |
| |
To Equity Share Allotment A/c |
|
593900 |
|
|
|
|
|
| |
To Equity Share 1st Call A/c |
|
393800 |
|
|
|
|
|
| |
To Equity Share 2nd and Final Call A/c |
|
196900 |
|
|
|
|
|
| |
To Equity Share Capital |
|
10400 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total |
|
|
2395000 |
|
Total |
|
|
2395000 |
▶ Video Solution: Coming Soon
Question 115
| In the books of XYZ Ltd |
| Journal |
| Particulars |
|
|
|
|
Dr |
Cr |
Shares |
Per share |
|
| Bank A/c Dr.. |
|
18000 |
|
3000 |
6 |
|
| To Equity Share Application A/c |
|
|
18000 |
|
|
|
| ( Being share application money received for |
|
|
|
|
|
|
| 3000 shares @ Rs 6 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share Application A/c |
|
18000 |
|
|
|
|
| To Equity Share Capital A/c |
|
|
10000 |
2000 |
5 |
|
| To Securities Premium Reserve A/c |
|
|
2000 |
2000 |
1 |
|
| To Equity Share Allotment A/c |
|
|
2400 |
400 |
6 |
|
| To Bank A/c |
|
|
3600 |
600 |
6 |
|
| ( Being share application money received for 2000 |
|
|
|
|
|
|
| shares transferred to Share Capital A/c @ Rs 5 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share Allotment A/c |
|
4000 |
|
2000 |
|
|
| To Equity Share Capital A/c |
|
|
2000 |
|
1 |
|
| To Securities Premium Reserve A/c |
|
|
2000 |
|
1 |
|
| ( Being share allotment money for 2000 shares |
|
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 1 per share |
|
|
|
|
|
|
| and Securities Premium Reserve A/c @ Rs 1 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c |
|
1568 |
|
|
|
|
| To Equity Share Allotment A/c |
|
|
1568 |
|
|
|
| (Being amount received on share allotment) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share 1st Call A/c |
|
6000 |
|
2000 |
|
|
| To Equity Share Capital A/c |
|
|
4000 |
|
2 |
|
| To Securities Premium Reserve A/c |
|
|
2000 |
|
1 |
|
| ( Being share 1st Call money for 2000 shares |
|
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 2 per share |
|
|
|
|
|
|
| and Securities Premium Reserve A/c @ Rs 1 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
5700 |
|
|
|
|
| To Equity Share 1st Call A/c |
|
|
5700 |
|
|
|
| (Being amount received on share 1st call) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
320 |
|
40 |
8 |
|
| Securities Premium Reserve A/c Dr.. |
|
72 |
|
|
|
|
| To Forfeited Shares A/c |
|
|
240 |
|
|
|
| To Equity share Allotment A/c |
|
|
32 |
|
|
|
| To Equity share 1st Call A/c |
|
|
120 |
|
|
|
| (Being 40 shares forfeited) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Equity Share 2nd and Final Call A/c |
|
5880 |
|
1960 |
|
|
| To Equity Share Capital A/c |
|
|
3920 |
|
2 |
|
| To Securities Premium Reserve A/c |
|
|
1960 |
|
1 |
|
| ( Being share 2nd and Final Call money for 1960 shares |
|
|
|
|
|
|
| transferred to Share Capital A/c @ Rs 2 per share |
|
|
|
|
|
|
| and Securities Premium Reserve A/c @ Rs 1 per share) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
5700 |
|
|
|
|
| To Equity Share 2nd and Final Call A/c |
|
|
5700 |
|
|
|
| (Being amount received on share 2nd and Final call) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Share Capital A/c Dr.. |
|
600 |
|
60 |
10 |
|
| Securities Premium Reserve A/c Dr.. |
|
120 |
|
60 |
2 |
|
| To Forfeited Shares A/c |
|
|
360 |
60 |
6 |
|
| To Equity share 1st Call A/c |
|
|
180 |
60 |
3 |
|
| To Equity share 2nd and Final Call A/c |
|
|
180 |
60 |
3 |
|
| (Being 60 shares forfeited) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Bank A/c Dr.. |
|
720 |
|
80 |
9 |
|
| Forfeited Shares A/c Dr… |
|
80 |
|
80 |
1 |
|
| To Share Capital A/c |
|
|
800 |
80 |
10 |
|
| (Being 1300 shares reissued) |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Forfeited Shares A/c Dr.. |
|
400 |
|
|
|
|
| To Capital Reserve A/c |
|
|
400 |
|
|
|
| (Being balance in Forfeited Shares A/c transferred |
|
|
|
|
|
|
| to Capital Reserve) |
|
|
|
|
|
|
|
|
|
| Note : Amount transferred to Capital Reserve |
| Description |
|
|
|
X |
Y |
Total |
|
|
|
| No of shares forfeited |
|
40 |
60 |
100 |
|
|
|
| Amount paid on forfeited shares |
|
240 |
360 |
600 |
|
|
|
| Amount Paid per share |
|
6 |
6 |
|
|
|
|
| No of shares reissued |
|
20 |
60 |
80 |
|
|
|
| Amount paid on shares reissued |
|
120 |
360 |
480 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Less - Discount on reissue |
|
|
|
80 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Amount transferred to Capital Reserve |
|
|
|
|
|
400 |
|
|
|
| Description |
|
|
X |
|
Y |
|
|
|
|
| Shares Applied |
|
48 |
|
72 |
|
|
|
|
| Shares alloted |
|
40 |
|
60 |
|
|
|
|
| Application Money |
|
288 |
|
|
|
|
|
|
| |
|
|
Capital |
Premium |
|
|
|
|
|
| Due on Application |
|
200 |
40 |
|
|
|
|
|
| Paid/Adjusted |
|
200 |
40 |
|
|
|
|
|
| Excess for allotment |
|
48 |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Due on Allotment |
|
40 |
40 |
|
|
|
|
|
| Advance Adjusted |
|
40 |
8 |
|
|
|
|
|
| Arrears on Allotment |
|
0 |
32 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Due on 1st Call |
|
80 |
40 |
|
|
|
|
|
| Paid/Adjusted |
|
|
|
|
|
|
|
|
| Arrears 1st Call |
|
80 |
40 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Note : Amount received on Allotment |
|
|
|
|
|
|
|
|
|
| Total Amount due on allotment |
|
|
|
4000 |
|
|
|
|
|
| Less - Received in advance |
|
2400 |
|
|
|
|
|
| Less - Calls in arrears for X |
|
32 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Amount Received |
|
|
|
1568 |
|
|
|
|
|
| Note : Amount received on 1st Call |
|
|
|
|
|
|
|
|
|
| Total Amount due on 1st Call |
|
|
|
6000 |
|
|
|
|
|
| Less - Received in advance |
|
0 |
|
|
|
|
|
| Less - Calls in Arrears for X |
|
120 |
|
|
|
|
|
| Less - Calls in Arrears for Y |
|
180 |
|
|
|
|
|
| Amount received on 1st Call |
|
|
|
5700 |
|
|
|
|
|
| Note : Amount received on 2nd Call |
|
|
|
|
|
|
|
|
|
| Total Amount due on 2nd Call |
|
|
|
5880 |
|
|
|
|
|
| Less - Received in advance |
|
0 |
|
|
|
|
|
| Less - Calls in arrears of Y |
|
180 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Amount received |
|
|
|
5700 |
|
|
|
|
|
| XYZ Ltd. |
| Balance Sheet as at …... |
| |
Particulars |
|
|
|
|
Note No |
Rs |
|
|
| I |
Equity and Liabilities |
|
|
|
|
|
| |
Shareholders Funds |
|
|
|
|
|
| |
(a) Share Capital |
|
1 |
19920 |
|
|
| |
(b) Reserves and Surplus |
|
2 |
8168 |
|
|
| |
Current Liabilities |
|
|
|
|
|
| |
Other Current Liabilities |
|
|
|
|
|
| |
Total |
|
|
28088 |
|
|
| |
|
|
|
|
|
|
|
|
|
| II |
Assets |
|
|
|
|
|
| |
Tangible Assets |
|
|
|
|
|
| |
Building |
|
3 |
0 |
|
|
| |
Current Assets |
|
|
|
|
|
| |
Cash and Cash Equivalents |
|
4 |
28088 |
|
|
| |
Total |
|
|
|
|
|
28088 |
|
|
| |
Notes to Accounts |
|
|
|
|
|
Amount |
Shares |
Per share |
| |
|
|
|
|
|
|
|
|
|
| 1 |
Share Capital |
|
|
|
|
| |
Authorised Capital |
|
|
|
|
| |
Equity Shares of Rs each |
|
0 |
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
Issued Capital |
|
|
|
|
| |
2000 Equity Shares of Rs 10 each |
|
20000 |
2000 |
10 |
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
20000 |
|
|
| |
Subscribed Capital |
|
|
|
|
| |
Subscribed and Fully Paid Up |
|
|
|
|
| |
1980 Equity Shares of Rs 10 each |
|
19800 |
1980 |
10 |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
19800 |
|
|
| |
Subscribed but not Fully Paid Up |
|
|
|
|
| |
Equity Shares of Rs each Rs called Up |
|
0 |
|
|
| |
Less - Calls in Arrears |
|
0 |
|
|
| |
|
|
|
|
|
|
0 |
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Add - Forefeited Shares |
|
120 |
|
|
| |
Amount to be shown in the Balance Sheet against Share |
|
19920 |
|
|
| |
Capital |
|
|
|
|
| 2 |
Reserves and Surplus |
|
|
|
|
| |
Securities Premium Reserve A/c |
|
7768 |
|
|
| |
Capital Reserve |
|
400 |
|
|
| |
Total |
|
8168 |
|
|
| |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible Assets |
|
|
|
|
| |
Building |
|
|
|
|
| 4 |
Cash and Cash Equivalents |
|
|
|
|
| |
Cash at Bank |
|
|
|
|
|
28088 |
|
|
| Cash A/c |
|
|
|
|
|
|
|
|
|
| Date |
Particulars |
|
|
Amount |
Date |
Particulars |
|
|
Amount |
| |
To Equity Share Application A/c |
|
|
18000 |
|
By Equity Share Application |
|
|
3600 |
| |
To Equity Share Allotment A/c |
|
1568 |
|
By Balance C/d |
|
28088 |
| |
To Equity Share 1st Call A/c |
|
5700 |
|
|
|
|
|
| |
To Equity Share 2nd and Final Call A/c |
|
5700 |
|
|
|
|
|
| |
To Equity Share Capital |
|
720 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
Total |
|
|
31688 |
|
Total |
|
|
31688 |
▶ Video Solution: Coming Soon
Q 1-10 | Q 11-20 | Q 21-30 | Q 31-40 | Q 41-50 | Q 51-60 | Q 61-70 | Q 71-80 | Q 81-90 | Q 91-100 | Q 100-110 | Q 111-115
T S Grewal Solutions – Issue of Shares – All Questions
T S Grewal Solutions Class 12 2026-27 – All Chapters