Answer:
JOURNAL
Date Particulars LF Amt (Dr) Amt (Cr) Bank A/c \[(2,00,000\times 8)\] Dr 16,00,000 To Equity Share Application A/c 16,00,000 (Being the application money received on shares) Equity Share application A/c Dr 16,00,000 To Equity Share Capital A/c 16,00,000 (Being the transfer of application money to equity share capital account on allotment) Equity Share Allotment A/c \[(2,00,000\times 10)\] Dr 20,00,000 To Equity Share Capital A/c \[(2,00,000\times 5)\] 10,00,000 To Securities Premium Reserve A/c \[(2,00,000\times 5)\] 10,00,000 (Being the allotment money due) Bank A/c Dr 20,00,000 To Equity Share Allotment A/c 20,000 (Being the receipt of @ Rs. 10 per share on 2,00,000 equity shares) Equity Share First and Final Call A/c \[(2,00,000\times 7)\] Dr 14,00,000 To Equity Share Capital A/c 14,00,000 (Being the amount due on 2,00,000 share @ Rs. 7 per share) Bank A/c \[(1,90,000\times 7)\] Dr 13,30,000 To Equity Share First and Final Call A/c 13,30,000 (Being the receipt of @ Rs. 7 per share on 1,90,000 equity shares)
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