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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