Home

Issue of Share for Cash | Old is Gold | Grade 12

Copy

OLD IS GOLD SOLUTION | MANAGEMENT | ACCOUNT GRADE 12

Issue of share for cash

2078 set C Q.no 9

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Adj. to call

Refund

4000

12000

4000

6000

6000*30

=180000

180000

120000

Journal Entries

Date	Particular	Debit	Credit
	Bank a/c Dr(20000*30) To share application a/c (Being share allotment money received)	600000	600000
	Share application a/c Dr To share capital (10000*30) To share allotment a/c To Bank a/c (Being application money transferred to share capital)	600000	300000 180000 120000
	Share allotment a/c Dr (1000040) To share capital (1000040) (Being share allotment money made due)	400000	400000
	Bank a/c Dr (400000-180000) To share allotment a/c (Being share allotment money received)	220000	220000
	Share first and final call a/c Dr (10000*30) To share capital (Being Share first and final money made due )	300000	300000
	Bank a/c Dr (400000-2000) Calls in advance a/c Dr (200*30) To share first and final call a/c (Being share first and final call money received)	294000 6000	300000

2076 set B Q.N. no 9

Working note

Applied share

Allotted share

Excess money

Adj. to allotment

Refund

20000

4000

12000

Got full share

6000

6000*30

180000

4000*30

120000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr(20000*30)

To share application a/c

(Being share allotment money received)

600000

300000

180000

120000

Share application a/c Dr

To share capital (10000*30)

To share allotment a/c

To Bank a/c

(Being application money transferred to share capital)

600000

300000

180000

120000

Share allotment a/c Dr (10000*40)

To share capital (10000*30)

To share premium (10000*10)

(Being share allotment money made due at 10 % premium)

400000

300000

100000

Bank a/c Dr (400000-180000+20000)

Calls in advance a/c Dr (500*40)

To share allotment a/c

(Being share allotment money received)

220000

20000

240000

Share first and final call a/c Dr (10000*40)

To share capital

(Being Share first and final money made due )

400000

Bank a/c Dr (400000-2000)

Calls in advance a/c Dr

To share first and final call a/c

(Being share first and final call money received)

380000

20000

400000

2076 set C Q.N. no 9

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

14000

4000

2000

8000

10000

Got full share

6000

60000

180000

2000*30

60000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr(1400*30)

To share application a/c

(Being share allotment money received)

420000

Share application a/c Dr

To share capital (10000*30)

To share allotment a/c

To Bank a/c

(Being application money transferred to share capital)

420000

300000

60000

Share allotment a/c Dr (10000*30)

Discount on the issue of share a/c Dr (10000*10)

To share capital (10000*40)

(Being share allotment money made due at 10 % discount)

300000

100000

400000

Bank a/c Dr (300000-60000)

To share allotment a/c

(Being share allotment money received)

260000

Share first and final call a/c Dr (10000*30)

To share capital

(Being Share first and final money made due )

300000

Bank a/c Dr

Calls in arrears a/c Dr (400*30)

To share first and final call a/c

(Being share first and final call money received)

288000

12000

300000

2075 set A Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

6000

5000

1000

4000

1000*20

20000

1000*20

20000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

120000

Share application a/c Dr

To share capital

To share allotment a/c

To Bank a/c

(Being application money transferred to share capital)

120000

80000

20000

Share allotment a/c Dr

To share capital

To share premium

(Being share allotment money made due at 20 % premium)

200000

120000

80000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

180000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

160000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

160000

2075 set B Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

14000

13000

1000

10000

3000*30

90000

1000*30

30000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

420000

Share application a/c Dr

To share capital

To share allotment a/c

To Bank a/c

(Being application money transferred to share capital)

420000

300000

90000

30000

Share allotment a/c Dr

To share capital

400000

(Being share allotment money made due )

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

310000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

300000

Bank a/c Dr

Calls in arrears a/c Dr

To share first and final call a/c

(Being share first and final call money received)

270000

3000

300000

2074 Supp. Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

40000

20000

10000

20000

10000

Got full share

10000*20

200000

10000*20

200000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

800000

Share application a/c Dr

To share capital

To share allotment a/c

To Bank a/c

(Being application money transferred to share capital)

800000

400000

200000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

300000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

100000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

1000000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

1000000

2072 Supp. Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

20000

4000

10000

6000

10000

Got full share

6000

4000*50

200000

6000*50

300000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

1000000

Share application a/c Dr

To share capital

To share allotment a/c

To Bank a/c

(Being application money transferred to share capital)

1000000

500000

200000

300000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

600000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

400000

2072 Set C Q.N. no 9

Journal Entries

Particular

Debit

Credit

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

150000

Bank a/c Dr

To share allotment a/c

To first call in advance money a/c

To final call in advance money a/c

(Being share allotment money received one shareholder holding 50 shares paid the entire the sum on allotment)

175000

150000

1000

1500

Share first, call a/c Dr

To share capital

(Being Share first call money made due )

100000

Bank a/c Dr

First call in advance a/c

To share first call a/c

(Being share first call money received)

99000

1000

100000

2072 Set D Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

500000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

500000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

500000

Bank a/c Dr

Calls in arrears a/c Dr

To share allotment a/c

(Being share allotment money received except one shareholder hold 100 shares fail to pay allotment money)

495000

5000

500000

2072 set E Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

2000

6000

2000

Full got 2000

3000

3000*30

90000

2000*30

60000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

300000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

300000

150000

90000

60000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

250000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

160000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

100000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

100000

Bank a/c Dr

To share application a/c

(Being share allotment money received)

300000

2071 Supp. Q.N. no 9

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

1000

15000

10000

5000*30

150000

1000*30

30000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

480000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

480000

300000

150000

30000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

400000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

250000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

300000

Bank a/c Dr

Calls in arrears a/c Dr

To share first and final call a/c

(Being share first and final call money received)

297000

3000

300000

2071 set C Q.N. no 9

Journal Entries

Particular

Debit

Credit

Share allotment a/c Dr

Discount on the issue of share a/c Dr

To share capital

(Being share allotment money made due at discount)

875000

250000

1125000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

875000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

750000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

750000

2071 set D Q.N. no 9

Journal Entries

Particular

Debit

Credit

Share allotment a/c Dr

Premium on the issue of share a/c Dr

To share capital

(Being share allotment money made due )

600000

200000

800000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

600000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

6000000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

6000000

2070 Supp. Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

2000

18000

2000

Got full share 8000

10000*3

30000

16000

14000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

66000

Share application a/c Dr

To share capital

To share allotment a/c

To share first and final call a/c

To Bank a/c

(Being application money transferred to share capital)

66000

30000

16000

14000

6000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

20000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

4000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

50000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

36000

2070 set D Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

1000000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

1000000

Share allotment a/c Dr

To share capital

To share premium a/c

(Being share allotment money made due )

3000000

1000000

2000000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

3000000

2069 Supp. set A Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

50000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

50000

Share allotment a/c Dr

Discount on the issue of share a/c Dr

To share capital

(Being share allotment money made due )

30000

10000

20000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

30000

2069 Supp. Set B Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

5000

10000

5000

Got full share

5000

5000*3

15000

5000*3

15000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

60000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

60000

30000

15000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

40000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

25000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

30000

Bank a/c Dr

Calls in arrears a/c Dr

To share first and final call a/c

(Being share first and final call money received)

29700

300

30000

2069 set A Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr (40000*20)

To share application a/c

(Being share allotment money received)

800000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

Share allotment a/c Dr (40000*50)

800000

2000000

800000

To share capital

To premium on issue of share a/c

(Being share allotment money made due at 10% premium

)

400000

1600000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

2000000

2069 Set B Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

2000

4000

1000

Got full share 3000

1000*30

30000

1000*30

30000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

210000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

210000

150000

30000

Share allotment a/c Dr

To share capital

(Being share allotment money made due )

200000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

170000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

150000

Bank a/c Dr

To share first and final call a/c

(Being share first and final call money received)

150000

2068 Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

200000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

200000

Share allotment a/c Dr

To share capital

To premium on issue of share a/c

(Being share allotment money made due at 5% premium )

350000

300000

50000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

350000

2068 Supp. Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

5000

10000

5000

Full share 5000

5000*30

150000

5000*30

150000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

600000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

600000

300000

150000

Share allotment a/c Dr

To share capital

To premium on issue of share

(Being share allotment money made due at 10% premium

)

500000

400000

100000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

350000

Share first and final call a/c Dr To share capital

(Being Share first and final money made due )

300000

Bank a/c Dr

Call in arrears a/c Dr

To share first and final call a/c

(Being share first and final call money received)

294000

6000

300000

2067 Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

100000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

100000

Share allotment a/c Dr

Discount on the issue of share

To share capital

(Being share allotment money made due at 10% discount)

200000

50000

250000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

150000

2067 Supp. Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

5000

8000

12000

Full share

5000

7000*40

280000

8000*40

320000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

1000000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

1000000

400000

280000

320000

Share allotment a/c Dr

To share capital

To premium on issue of share

(Being share allotment money made due at 10% premium)

500000

400000

100000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

220000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

200000

2066 Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

250000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

250000

Share allotment a/c Dr

To share capital

To premium on issue of share a/c

(Being share allotment money made due at 10% premium

)

300000

250000

50000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

300000

2069 Supp. Q.N. no 9

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

4000

9000

2000

Full share 6000

3000*15

45000

2000*15

30000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

225000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

225000

150000

45000

30000

Share allotment a/c Dr

To share capital

To premium on issue of share

(Being share allotment money made due at 10% premium)

250000

200000

50000

Bank a/c Dr

Calls in arrears a/c Dr (400*(25-(45000/6000))) i.e

400*(25-17.5)

To share allotment a/c

(Being share allotment money received except one shareholder holding 400 shares fail to pay allotment money)

198000

7000

205000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

150000

Bank a/c Dr

Calls in arrears a/c Dr

To share first and final call a/c

(Being share first and final call money received except one shareholder holding 400 share fail to pay call money)

144000

6000

150000

2066 (c) Q.N. no 10

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

2000

15000

10000

5000*25

125000

2000*25

50000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

425000

Share application a/c Dr

To share capital

To share allotment a/c

425000

250000

125000

To bank a/c

(Being application money transferred to share capital)

50000

Share allotment a/c Dr

To share capital

(Being share allotment money made)

250000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

125000

2065 Q.N. no 10

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

150000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

150000

Share allotment a/c Dr

To share capital

To premium on issue of share

(Being share allotment money made due at 10% premium)

200000

150000

50000

Bank a/c Dr

To first call in advance a/c

To final call in advance a/c

To share allotment a/c

(Being share allotment money received one shareholder holding 300 shares paid the entire amount along with allotment money)

200000

6000

200000

Share first call a/c Dr

To share capital

(Being Share first money made due )

200000

Bank a/c Dr

First call in advance a/c Dr

To share first call a/c

(Being share first call money received)

194000

6000

200000

2065 Q.N. no 10 (Old)

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

5000

1000

Full

5000

5000*30

150000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

450000

Share application a/c Dr

To share capital

To share allotment a/c

(Being application money transferred to share capital)

450000

300000

150000

Share allotment a/c Dr

To share capital

(Being share allotment money made)

500000

Bank a/c Dr

Calls in arrears a/c Dr (400*(50-(150000/5000)

To share allotment a/c

(Being share allotment money received except one shareholder holding 400 shares fail to pay allotment money)

342000

8000

350000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

200000

Bank a/c Dr

Calls in arrears a/c Dr

To share first and final call a/c

(Being share first and final call money received except one shareholder holding 400 share fail to pay call money)

192000

8000

200000

2064 Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

50000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

50000

Share allotment a/c Dr

To share capital

To premium on issue of share a/c

(Being share allotment money made due at 20% premium

)

70000

50000

20000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

70000

2064 Supp. Q.N. no 9

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

5000

Share application a/c Dr

To share capital

(Being application money transferred to share capital)

5000

Share allotment a/c Dr

To share capital

To premium on issue of share a/c

(Being share allotment money made due at 20% premium

)

7000

5000

2000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

7000

2063 Q.N. no 1

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

1000

20000

15000

5000*20

100000

1000*20

20000

Journal Entries

Particular	Debit	Credit
Bank a/c Dr To share application a/c (Being share allotment money received)	420000	420000

Share application a/c Dr To share capital To share allotment a/c To bank a/c (Being application money transferred to share capital)	420000	100000 20000
Share allotment a/c Dr To share capital To premium on issue of share a/c (Being share allotment money made)	600000	450000 150000
Bank a/c Dr To share allotment a/c (Being share allotment money received)	500000	500000
Share first and final call a/c Dr To share capital (Being Share first and final money made due )	750000	750000

2062 Q.N. no 1

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

4000

36000

30000

6000*10

60000

4000*10

40000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

400000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

400000

300000

60000

40000

Share allotment a/c Dr

To share capital

600000

576000

To premium on issue of share a/c (Being share allotment money made)

24000

Bank a/c Dr

To share allotment a/c

(Being share allotment money received)

540000

Share first and final call a/c Dr

To share capital

(Being Share first and final money made due )

600000

2069 Q.N. no 1

Working note

Applied share

Allotted share

Excess money

Adj. to

allotment

Refund

2000

6000

5000

1000*30

30000

2000*30

60000

Journal Entries

Particular

Debit

Credit

Bank a/c Dr

To share application a/c

(Being share allotment money received)

240000

Share application a/c Dr

To share capital

To share allotment a/c

To bank a/c

(Being application money transferred to share capital)

240000

150000

30000

60000

Share allotment a/c Dr

To share capital

To premium on issue of share a/c

(Being share allotment money made at 20% premium)

200000

100000

Bank a/c Dr

To share allotment a/c

To first call in advance a/c

To final call in advance a/c

(Being share allotment money received except one shareholder holding 400 shares fail to pay allotment money)

180000

170000

4000

6000

Share first call a/c Dr

To share capital

(Being Share first call money made due )

100000

Bank a/c Dr

Calls in arrears a/c Dr

First call in advance a/c Dr

To share first call a/c

(Being share first call money received except one shareholder holding 300 share fail to pay first call money)

90000

6000

4000

100000

Neupane Nirmal

Table of Content

Issue of Share for Cash | Old is Gold | Grade 12

Issue of share for cash

2078 set C Q.no 9

2076 set B Q.N. no 9

2076 set C Q.N. no 9

2075 set A Q.N. no 10

2075 set B Q.N. no 10

2074 Supp. Q.N. no 10

2072 Supp. Q.N. no 10

2072 Set C Q.N. no 9

2072 Set D Q.N. no 9

2072 set E Q.N. no 10

2071 Supp. Q.N. no 9

2071 set C Q.N. no 9

2071 set D Q.N. no 9

2070 Supp. Q.N. no 10

2070 set D Q.N. no 9

2069 Supp. set A Q.N. no 9

2069 Supp. Set B Q.N. no 10

2069 set A Q.N. no 9

2069 Set B Q.N. no 10

2068 Q.N. no 9

2068 Supp. Q.N. no 10

2067 Q.N. no 9

2067 Supp. Q.N. no 10

2066 Q.N. no 9

2069 Supp. Q.N. no 9

2066 (c) Q.N. no 10

2065 Q.N. no 10

2065 Q.N. no 10 (Old)

2064 Q.N. no 9

2064 Supp. Q.N. no 9

2063 Q.N. no 1

2062 Q.N. no 1

2069 Q.N. no 1

3 comments