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To Equity Share Application Account

(Being receipt of application money on 1,00,000 shares
@ 25 per share)
2.
Dr.
Equity Share Application Account

2,00,000

2,00,000
To Bank Account

(Being the refund of application money for 8000 shares

@ 25 per share)
Dr.

Equity Share Application Account
15,00,000
3.
To Equity Share Capital Account

15,00,000
1. Bank Account Dr. 25, 00,000 25,00,000

(Being share application money transferred to share
capital a/c)
4. Equity Share Application Account Dr. 8,00,000
To Equity Share Allotment Account 6,00,000
Unit 1: Share Capital – Issue of Shares
To Calls-in-Advance Account 2,00,000
(Being utilisation of excess application money in
allotment and calls-in-advance)
5. Equity Share Allotment Account Dr. 30,00,000 Notes
To Equity Share Capital Account 30,00,000
(Being allotment money due on 60,000 shares @ 50 per
share)
6. Bank Account Dr. 24,00,000
To Equity Share Allotment Account 24,00,000
(Being the receipt of balance of allotment money)
7. Equity Share First and Final Call Account Dr. 15,00,000
To Equity Share Capital Account 15,00,000
(Being first and final call due on 60,000 shares @ 25
per share)
8. Bank Account Dr. 13,00,000
Call-in-Advance Account Dr. 2,00,000
To Equity Share First and Final Call A/c 15,00,000
(Being calls-in advance adjusted and balance of call
money received)
Ledger Accounts Bank Account
Particulars Particulars
To Equity Share Application Account 25,00,000 By Equity Share Application
(Application money on 1,00,000 Account (Application
shares @ 25 per share) money refunded on 8,000

To Equity Share Allotment Account shares @ 25 per share)
24,00,000 2,00,000
(balance of allotment money received) By balance c/d
60,00,000
To Equity Share First and Final Call 13,00,000
Account
(Balance of first and final call money)
62,00,000 62,00,000
Equity Share Application Account
Particulars Particulars
To Bank Account 2,00,000 By Bank Account 25,00,000
To Equity Share Capital Account 15,00,000
To Equity Share Allotment Account 6,00,000
To Call-in-Advance Account 2,00,000
25,00,000 25,00,000
Equity Share Allotment Account

30,00,000 By Equity Share 6,00,000
To Equity Share Capital Account Application A/c 24,00,000
By Bank Account
30,00,000 30,00,000
Equity Share First and Final Call Account

2,00,000 By Equity Share 15,00,000
To Call-in-Advance Account
13,00,000 Capital Account
To Bank Account
15,00,000 15,00,000

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