Page 13 - DCOM205_ACCOUNTING_FOR_COMPANIES_II

Accounting for Companies – II

notes Goodwill Account Dr. 2,00,000
To Creditors Account 1,40,400
To Bank Loan Account 20,000
To X 12,00,000
(Being sundry assets and liabilities of X limited
purchased and goodwill recorded)
X Dr. 12,00,000
To Bank Account 3,00,000
To Equity Share Capital Account 4,00,000
To 5% Preference Share Capital Account 5,00,000
(Being payment made to X)
Bank Account Dr. 2,75,000
To Equity Share Application Account 1,50,000
To 5% Preference Share Application Account 1,25,000
(Being receipt of application money on equity
shares and preference Shares)
5% Preferences Share Application Account Dr. 1,25,000
To 5% Preference Share Capital Account 1,25,000
(Being transfer of application money to share capital account)

Equity Share Application Account Dr. 1,50,000
To Equity Share Capital Account 1,50,000
(Being transfer of application money to share capital account)
5% Preference Share Allotment Account Dr. 1,25,000
To 5% Preference Share Capital Account 1,25,000
(Being allotment money due on preference shares)
Equity Share Allotment Account Dr. 1,50,000
To Equity Share Capital Account 1,50,000
(Being allotment money due on equity shares)
Bank Account Dr. 2,75,000
To 5% Preference Share Allotment Account 1,25,000
To Equity Share Allotment Account 1,50,000
(Being receipt of allotment money on preference
shares and equity shares)
5% Preference Share First Call Account Dr. 2,50,000

To 5% Preference Share Capital Account 2,50,000
(Being first call money due on preference shares)
Equity Share First Call Account Dr. 3,00,000
To Equity Share Capital Account 3,00,000
(Being first call money due on equity shares)

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