Answer:
JOURNAL
Working Note Calculation of Capital Reserve Date Particulars LF Amt (Dr) Amt (Cr) Bank A/c \[\left( 26,000\times 2 \right)\] Dr 52,000 To Equity Share Application A/c 52,000 (Being share application money received for 26,000 shares @ Rs. 2 per Share) Equity Share Application A/c Dr 52,000 To Equity Share Capital A/c \[\left( 20,000\times 2 \right)\] 40,000 To Equity Share Allotment A/c \[\left( 2,000\times 2 \right)\] 4,000 To Bank A/c \[\left( 4,000\times 2 \right)\] 8,000 (Being application money @ Rs 2 per share on 20,000 shares transferred to share capital account and money of 4,000 shares returned, remaining transferred to share allotment) Equity Share Allotment A/c Dr 80,000 To Equity Share Capital A/c \[\left( 20,000\times 3 \right)\] 60,000 To Securities Premium Reserve A/c \[\left( 20,000\times 1 \right)\] 20,000 (Being share allotment money due on 20,000 shares @ Rs.4 per share including Rs. 1 securities premium reserve) Bank A/c (80,000 - 4,000) Dr 76,000 To Equity Share Allotment A/c 76,000 (Being share allotment money received for all the shares after adjustment of money transferred from share application) Equity Share First Call A/c Dr 60,000 To Equity Share Capital A/c \[\left( 20,000\times 3 \right)\] 60,000 (Being share first call money due on 20,000 shares @ Rs. 3 per share) Bank A/c \[\left( 20,000\times 3 \right)\] Dr 60,000 To Equity Share First Call A/c 60,000 (Being share first call received for 20,000 shares @ Rs. 3 per share) Equity Share Second and Final Call A/c Dr 40,000 To Equity Share Capital A/c \[\left( 20,000\times 2 \right)\] 40,000 (Being share second and final call money due on 20,000 snares @ Rs. 2 per share) Bank A/c \[\left( 19,500\times 2 \right)\] Dr 39,000 To Equity Share Second and Final Call A/c 39,000 (Being share second and final call money received for 19,500 shares @ Rs. 2 per share) Equity Share Capital A/c \[\left( 500\times 10 \right)\] Dr 5,000 To Equity Share Second and Final Call A/c \[\left( 55\times 2 \right)\] 1,000 To Equity Share Forfeiture A/c \[\left( 500\times 8 \right)\] 4,000 (Being 500 shares @ Rs. 10 per share fully called-up forfeited for non-payment of secondhand final call @ Rs. 2 per share) Bank A/c \[\left( 300\times 9 \right)\] Dr 2,700 Equity Share Forfeiture A/c \[\left( 300\times 1 \right)\] 300 To Equity Share Capital A/c \[\left( 300\times 10 \right)\] 3,000 (Being 300 shares @ Rs. 10 each re-issued for Rs. 9 per share fully paid-up) Equity Share Forfeiture A/c (WN) Dr 2,100 To Capital Reserve A/c 2,100 (Being balance of 300 shares in share forfeiture account transferred to capital reserve account, after adjustment)
Or JOURNAL Money transferred to share forfeiture account against forfeiture of 300 shares \[\left( 300\times 8 \right)\] 2,400 (-) Money adjusted on re-issue of 300 shares from forfeiture account \[\left( 300\times 1 \right)\] (300) Amount transferred to capital reserve account Rs. 2,100