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    Issue of Shares Questions With Solutions

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    Sumiran Bansal
    The document outlines the process of issuing shares by a company over 5 quarters, including details on authorised capital, applications received, allotments, calls made and received from shareholders. It provides accounting entries recording the share capital received and amounts due from or refunds to shareholders at each stage of the share issuing process. Key figures like applications, allotments, amounts due and received on each allotment and call are also presented quarter-wise for comparison.

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    Issue of Shares Questions With Solutions

    Uploaded by

    Sumiran Bansal
    227 views4 pages
    The document outlines the process of issuing shares by a company over 5 quarters, including details on authorised capital, applications received, allotments, calls made and received from shareholders. It provides accounting entries recording the share capital received and amounts due from or refunds to shareholders at each stage of the share issuing process. Key figures like applications, allotments, amounts due and received on each allotment and call are also presented quarter-wise for comparison.

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    Issue of Shares Questions with Solutions

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    The document outlines the process of issuing shares by a company over 5 quarters, including details on authorised capital, applications received, allotments, calls made and received from shareholders. It provides accounting entries recording the share capital received and amounts due from or refunds to shareholders at each stage of the share issuing process. Key figures like applications, allotments, amounts due and received on each allotment and call are also presented quarter-wise for comparison.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    227 views4 pages

    Issue of Shares Questions With Solutions

    Uploaded by

    Sumiran Bansal
    The document outlines the process of issuing shares by a company over 5 quarters, including details on authorised capital, applications received, allotments, calls made and received from shareholders. It provides accounting entries recording the share capital received and amounts due from or refunds to shareholders at each stage of the share issuing process. Key figures like applications, allotments, amounts due and received on each allotment and call are also presented quarter-wise for comparison.

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    © All Rights Reserved
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    Q1 Q2 Q3 Q4 Q5

    Authorised Share of Rs. 10 each 50000 50000 50000 50000 50000


    Issued 12000 12000 12000 12000 12000
    Subscribed / App recd for 12000 15000 20000 15000 20000
    Returned / Refund - 5000 - 5000
    Alloted / Issued Pro rata Pro rata Pro rata Pro rata

    Amount payable on -
    Application 4
    Allotment 3
    1st Call 2
    2nd Call 1

    Not paid by X or Y
    Applied / Made application 600 600 600
    Alloted / issued 400 400

    Forfeited share Reissued at Rs. 7 Full Full 100 Share Full 100 Shares

    Allotment Recd Bank A/c Dr 48,000 60,000 80,000 60,000 80,000


    To ES App 48,000 60,000 80,000 60,000 80,000

    ES App A/c Dr 48,000 48,000 48,000 48,000 48,000


    Allotment To ES Cap 48,000 48,000 48,000 48,000 48,000
    Refund To Bank - - 20,000 - 20,000

    Allotment due ES All A/c Dr 36,000 36,000 36,000 36,000 36,000


    To ES Cap 36,000 36,000 36,000 36,000 36,000

    Excess Transfer - ES App A/c Dr - 12,000 12,000 12,000 12,000


    Allotment To ES All - 12,000 12,000 12,000 12,000

    Allotment Recd Bank A/c Dr


    Not Recd Call in Arrear A/c Dr
    Total To ES All 36,000 24,000 24,000 24,000 24,000

    Alloted Alloted Applied Applied


    15000 12000 NA - - - -
    1 12000/15000 NA - - - -
    600 12000/15000 X 600 NA 480 480 - -

    12000 15000 NA - - - -
    1 15000/12000 NA - - - -
    400 15000/12000 X 400 NA - - 500 500

    Amount Recd on App (1) NA 600 X 4 2400 500 X 4 2000


    Amount Due (2) NA 480 X 4 1920 400 X 4 1600
    Excess Recd (3= 1-2) NA 2400-1920 480 2000-1600 400
    Due on Allotment (4) NA 480 X 3 1440 400 X 3 1200
    Not Recd on Allotment (4-3) NA 1440-480 960 1200-400 800
    Q1 Q2 Q3 Q4 Q5
    Authorised Share of Rs. 10 each 50000 50000 50000 50000 50000
    Issued 12000 12000 12000 12000 12000
    Subscribed / App recd for 12000 15000 20000 15000 20000
    Returned / Refund - 5000 - 5000
    Alloted / Issued Pro rata Pro rata Pro rata Pro rata

    Amount payable on -
    Application 4
    Allotment 3
    1st Call 2
    2nd Call 1

    Not paid by X or Y
    Applied / Made application 600 600 600
    Alloted / issued 400 400

    Forfeited share Reissued at Rs. 7 Full Full 100 Share Full 100 Shares

    1st Call due ES 1st Call A/c Dr 24,000 24,000 24,000 24,000 24,000
    To ES Cap 24,000 24,000 24,000 24,000 24,000

    1st Call Recd Bank A/c Dr


    Not Recd Call in Arrear A/c Dr
    Total To ES 1st Call 24,000 24,000 24,000 24,000 24,000

    2nd Call due ES 2nd Call A/c Dr 12,000 12,000 12,000 12,000 12,000
    To ES Cap 12,000 12,000 12,000 12,000 12,000

    2nd Call Recd Bank A/c Dr


    Not Recd Call in Arrear A/c Dr
    Total To ES 2nd Call 12,000 12,000 12,000 12,000 12,000

    Forfeiture ES Cap A/c Dr 6,000 4,800 4,800 4,000 4,000


    Not Recd To ES All
    Not Recd To ES 1st Call
    Not Recd To ES 2nd Call
    Amt Recd To Share Forfeiture

    Reissue Bank A/c Dr 4,200 3,360 700 2,800 700


    Loss on reissue Share Forfeiture A/c Dr
    Total Face value To ES Cap 6,000 4,800 1,000 4,000 1,000

    Bal Transfer Share Forfeiture A/c Dr


    To Capital Reserve

    Amount Recd on App (1) NA 600 X 4 2400 500 X 4 2000


    Amount Due (2) NA 480 X 4 1920 400 X 4 1600
    Excess Recd (3= 1-2) NA 480 400
    Due on Allotment (4) NA 480 X 3 1440 400 X 3 1200
    Not Recd on Allotment (4-3) NA 1440-480 960 1200-400 800
    Q1 Q2 Q3 Q4 Q5
    Authorised Share of Rs. 10 each 50000 50000 50000 50000 50000
    Issued 12000 12000 12000 12000 12000
    Subscribed / App recd for 12000 15000 20000 15000 20000
    Returned / Refund - 5000 - 5000
    Alloted / Issued Pro rata Pro rata Pro rata Pro rata

    Amount payable on -
    Application 4
    Allotment 3
    1st Call 2
    2nd Call 1

    Not paid by X or Y
    Applied / Made application 600 600 600 500 500
    Alloted / issued 600 480 480 400 400

    Forfeited share Reissued at Rs. 7 Full Full 100 Share Full 100 Shares

    Allotment Recd Bank A/c Dr (4X 12K/15K/20K) 48,000 60,000 80,000 60,000 80,000
    To ES App 48,000 60,000 80,000 60,000 80,000

    ES App A/c Dr 48,000 48,000 48,000 48,000 48,000


    Allotment To ES Cap (4 X 12000) 48,000 48,000 48,000 48,000 48,000
    Refund To Bank (4X 5000) - - 20,000 - 20,000

    Allotment due ES All A/c Dr (3 X 12000) 36,000 36,000 36,000 36,000 36,000
    To ES Cap 36,000 36,000 36,000 36,000 36,000

    Excess Transfer - ES App A/c Dr NA 12,000 12,000 12,000 12,000


    Allotment To ES All NA 12,000 12,000 12,000 12,000

    Allotment Recd Bank A/c Dr 34,200 23,040 23,040 23,200 23,200


    Not Recd Call in Arrear A/c Dr 1,800 960 960 800 800
    Total To ES All 36,000 24,000 24,000 24,000 24,000

    Alloted Alloted Applied Applied


    15000 12000 NA - - - -
    1 12000/15000 NA - - - -
    600 12000/15000 X 600 NA 480 480 - -

    12000 15000 NA - - - -
    1 15000/12000 NA - - - -
    400 15000/12000 X 400 NA - - 500 500

    Amount Recd on App (1) NA 600 X 4 2400 500 X 4 2000


    Amount Due (2) NA 480 X 4 1920 400 X 4 1600
    Excess Recd (3= 1-2) NA 2400-1920 480 2000-1600 400
    Due on Allotment (4) NA 480 X 3 1440 400 X 3 1200
    Not Recd on Allotment (4-3) NA 1440-480 960 1200-400 800
    Q1 Q2 Q3 Q4 Q5
    Authorised Share of Rs. 10 each 50000 50000 50000 50000 50000
    Issued 12000 12000 12000 12000 12000
    Subscribed / App recd for 12000 15000 20000 15000 20000
    Returned / Refund - 5000 - 5000
    Alloted / Issued Pro rata Pro rata Pro rata Pro rata

    Amount payable on -
    Application 4
    Allotment 3
    1st Call 2
    2nd Call 1

    Not paid by X or Y
    Applied / Made application 600 600 600 500 500
    Alloted / issued 600 480 480 400 400

    Forfeited share Reissued at Rs. 7 Full Full 100 Share Full 100 Shares

    1st Call due ES 1st Call A/c Dr (2 X 12000) 24,000 24,000 24,000 24,000 24,000
    To ES Cap 24,000 24,000 24,000 24,000 24,000

    1st Call Recd Bank A/c Dr 22,800 23,040 23,040 23,200 23,200
    Not Recd Call in Arrear A/c Dr 1,200 960 960 800 800
    Total To ES 1st Call 24,000 24,000 24,000 24,000 24,000

    2nd Call due ES 2nd Call A/c Dr (1 X 12000) 12,000 12,000 12,000 12,000 12,000
    To ES Cap 12,000 12,000 12,000 12,000 12,000

    2nd Call Recd Bank A/c Dr 11,400 11,520 11,520 11,600 11,600
    Not Recd Call in Arrear A/c Dr 600 480 480 400 400
    Total To ES 2nd Call 12,000 12,000 12,000 12,000 12,000

    Forfeiture ES Cap A/c Dr (10X 600/480/400) 6,000 4,800 4,800 4,000 4,000
    Not Recd To ES All 1,800 960 960 800 800
    Not Recd To ES 1st Call (2X 600/480/400) 1,200 960 960 800 800
    Not Recd To ES 2nd Call (1X 600/480/400) 600 480 480 400 400
    Amt Recd To Share Forfeiture 2,400 2,400 2,400 2,000 2,000

    Reissue Bank A/c Dr 7X 4,200 3,360 700 2,800 700


    Loss on reissue Share Forfeiture A/c Dr 3 X 1,800 1,440 300 1,200 300
    Total Face value To ES Cap 10 X 6,000 4,800 1,000 4,000 1,000

    Bal Transfer Share Forfeiture A/c Dr 600 960 200 800 200
    To Capital Reserve 600 960 200 800 200

    Amount Recd on App (1) NA 600 X 4 2400 500 X 4 2000


    Amount Due (2) NA 480 X 4 1920 400 X 4 1600
    Excess Recd (3= 1-2) NA 480 400
    Due on Allotment (4) NA 480 X 3 1440 400 X 3 1200
    Not Recd on Allotment (4-3) NA 1440-480 960 1200-400 800

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