Particulars Dr. Cr 1. Share Capital Account 2,400 Dr. 600 Securities Premium Account 900 Dr. 600 To Share Allotment Account 1,500 To Share 1st Call Account To Share Forfeiture Account (Shares forfeited for non payment) 1,600 *assuming that the shares are allotted 2. 400 on pro-rata basis on 500 applications Bank Account 2,000 Dr. Share Forfeiture Account 600 3. Dr. To Share Capital 600 (Reissue of forfeited shares) Share Forfeiture Account Dr. To Capital Reserve (Excess of forfeiture amount, belonging to forfeited shares transferred to capital reserve) b. Particulars Dr. Cr 1. Share Capital Account 1,500 Dr. 450 To Share Forfeiture Account 300 To Share Allotment Account 300 To Share 1st Call Account 300 To Share 2nd Call Account 150 To Discount on Issue Account 2. 800 (Shares forfeited for non payment) 100 Bank Account 100 Dr. Discount on Issue 1,000 Dr. 3. Share Forfeiture Account 200 Dr. 200 To Share Capital (Reissue of forfeited shares) Share Forfeiture Account Dr. To Capital Reserve
Particulars Dr. Cr 1. 2. 3. Share Capital Account Dr. Securities Premium Account Dr. To Share Allotment Account To Share 1st Call Account To Share Forfeiture Account (Shares forfeited for non payment) *assuming that the shares are allotted on pro-rata basis on 500 applications Bank Account Dr. Share Forfeiture Account Dr. To Share Capital (Reissue of forfeited shares) Share Forfeiture Account Dr. To Capital Reserve (Excess of forfeiture amount, belonging to forfeited shares transferred to capital reserve) 2,400 600 1,600 400 600 900 600 1,500 2,000 600 b. Particulars Dr. Cr 1. 2. 3. Share Capital Account Dr. To Share Forfeiture Account To Share Allotment Account To Share 1st Call Account To Share 2nd Call Account To Discount on Issue Account (Shares forfeited for non payment) Bank Account Dr. Discount on Issue Dr. Share Forfeiture Account Dr. To Share Capital (Reissue of forfeited shares) Share Forfeiture Account Dr. To Capital Reserve 1,500 800 100 100 200 450 300 300 300 150 1,000 200
217622_47073_company_account.docx