Issue of Share

1. The HMT Ltd . Issued 15,000 equity shares of Rs.10 each. Payable as under:- (Full Subscription)
On Application Rs. 3 On Allotment Rs.2
On First Call Rs. 3 On Final Call Rs.2
The entire share was fully subscribed by the public. All the money due on installment were received.
Pass journal entries to record the above transaction in the books of the company.

2. Usha Co. Ltd issued 12,000 Equity share of Rs. 100 each payable as under- (Under Subscription)
Rs. 30 on application Rs.20 allotment
Rs. 35 on first call Rs.15 on second call
Public applied for 10,000 shares and all the applicant were accepted by the company. Allotments of the shares
were made. All the money on allotment, first call & second call were received. Show the journal of the company.

3. Geeta Ltd. invited applications for 50,000 equity shares of 10each payable as under :- (Over Subscription)
Rs.3 On Application Rs. 2 On Allotment
Rs. 3 On First Call Rs. 2 On Final Call
Public applied for 60,000 shares. All the application were accepted by the company. Money on excess
application was used for allotment purpose. Assuming that all the allotment, first call and final call duly received.
Pass journal entries in the books of the company.

4. Geeta Ltd. invited applications for 50,000 equity shares of 10each payable as under :- (Over Subscription)
Rs.3 On Application Rs. 2 On Allotment
Rs. 3 On First Call Rs. 2 On Final Call
Public applied for 60,000 shares of which application for 10,000 share were rejected and money refunded..
Assuming that all the allotment, first call and final call duly received.
Pass journal entries in the books of the company.

5. Bharucha Co. Ltd issued 46,000 shares of Rs.100 each payable as follows.
Rs. 25 On application Rs. 35 On allotment
Rs. 25 on first call and, Rs. 15 On second call
Public applied for 40,000 shares and all application were accepted to allot the shares. All sums due on allotment
and calls were received. Journalise the transaction in the books of Bharucha Co.Ltd.

6. Mallya & Co, Ltd. invited application for 20,000 equity shares of Rs.10 each payable as under :-
Rs. 3 on application , Rs. 2 on allotment, Rs.3 in first call, Rs.2 on second call.
Public applied for 25,000 shares company rejected 3,000 application and their money was refunded. Money on
remaining application after allotment of 20,000 shares diverted to allotment. All the money on allotment and call
was duly received. Pass journal entries in the books of Mallya & Co. Ltd.

7. Dandekar Co.Ltd. made an issue of 20,000 equity Shares of Rs.20 each, payable as follows:
Application Rs.5 per share Allotment Rs.10 per share
First Call Rs.3 per share Second & Final call Rs. 2 per share
The company received applications for 25,000 shares of which application for 5,000 shares were rejected and
money refunded. All the shareholders paid up to second call except Ravi the allotee of 200 shares shares failed to
pay final call. The expenses of issue amounted to Rs.3,000.
Pass Journal entries and show the balance sheet in the books of Dandekar & Co. Ltd.
8. Johnson & Johnson Co. Ltd. Issued 50,000 shares of Rs.20 each, at a discount of 10% payable as follows:
On Application :- Rs. 5 per share
On Allotment :- Rs. 6 per share (Discount Rs. 2)
On First Call :- Rs. 7 per share
Application were received for 75,000 shares and the directors made pro-rata allotment to the application for
60,000 shares. Show the journal of the Johnson & Johnson Co.Ltd. assuming that all money received.

9. Quick Deal Co. Ltd. Invited applications for 10,000 equity shares of Rs. 100 each to be issued at a premium of
Rs. 10 payable on allotment. Amount on shares was called as under.
On Application Rs. 20 On Allotment Rs. 40 On First Call Rs. 30 On Final Call Rs. 20
All the shares were applied for and allotted. Journalise the transactions, assuming that all sums due were
received in the biiks of Quick Deal Co.Ltd.

10. The Alfo Ltd. made an issue of 10,000 shares of Rs. 20 each payable as follows-
Application :- Rs.5 Allotment :- Rs.10
First Call :- Rs.2 Final Call :- Rs. 3
The company received application for 15,000 shares of which application for 5,000 shares were rejected and
money refunded. The directors made all the calls. One share holders, holding 100 shares failed to pay first and
final call. The expenses of issue amounted to Rs,5,000. Pass Journal entries and show the Balance sheet.

11. ONGC Ltd. invited application for 25,000 shares of Rs. 100 each payable as under:-
On Application : Rs. 20 On Allotment :- Rs.10
On Fist Call : Rs. 25 On Final Call :- Rs. 15
Public applied for 40,000 shares, out of which 10,000 shares were rejected and money on 5,000 shares was
diverted to shares allotment. All the allotment and calls money was received. Pass journal in the journal of ONGC
Ltd.

12. Global IT Ltd. issued 1,00,000 shares of 10 each at a discount 10% payable as follows-
On Application ; Rs. 3 On Allotment : Rs 3 (Discount)
On First Call : Rs. 2 On Second Call : Rs.1
Public applied for 1,20,000 shares and the directors made pro-rata allotment to the applicants. Show the
journal of the company assuming that all money received on allotment and calls.

13. Hindusthan Petroleum Ltd. invited application for 40,000 equity shares of Rs.100 each payable as under
including 20% premium:
On Application :- Rs.30 On Allotment :- Rs.40 (Including premium)
On First Call :- Rs.20 On Final Call :- 30
All the shares were applied for and also allotted. One share holder who was allotted 500 shares failed to pay
first and final call. Record the above transactions in the journal of the company.

14. Vijay Lrd. Issued 40,000 Equity shares of Rs. 10 each payable as follows.
On Application :- Rs.2 On Allotment :- Rs.3
On First Call :- Rs.3 On Second Call :- Rs.2
The Company received applications for 50,000 equity shares. Allotment of shares was made on pro rata
basis..shares allotment and calls were made and as also received except Raja holding 1,000 shares failed to pay
both the calls. His shares were forfeited after second call. Record the above transactions in books of Vijay Ltd..

15. The Century Ltd. issued 8,000 shares of Rs. 100 at a premium of 10% payable as under –
On Application :- Rs. 25 On Allotment :- Rs. 40 (Including premium)
On First Call :- Rs. 20 On Second Call :- Rs. 25
Company called up allotment and both the calls which were duly received except Ramesh to whom 500 shares
were allotted failed to pay allotment and calls. Prepare journal of Century Ltd.
16. Goldi & Co. Ltd. Issued at a par 1,00,000 shares of Rs.10 each payable Rs.3 on application, Rs. 4 on
allotment, and the balance on the final call. All the shares were fully subscribed were fully subscribed and paid
except a shareholder Mr. Poor having 1,000 shares could not pay the final call. Mr. Poor paid the call in arrear
amount after four months of final call. Company charges=d interest on the amount received as per Table ‘A’.
Pass journal entries to record these transactions assuming that call in arrears and interest money received
from Mr. Poor in the books of Goldi & Co, Ltd.

17. Medhi Industries Co. Ltd. issued 15,000 Equity shares of Rs.100 each, payable as follows:-
On Application: - Rs. 20, On Allotment: - Rs.30, On First Call:- Rs.25, On Second Call :- Rs 25.
The Company received applications for 12,000 shares. All the application were accepted and shares were
allotted. The Company made both the call.
One shareholder holding 400 shares failed to pay the final call. His shares were forfeited. Pass journal entries
in the books of Medhi Industries Co. Ltd.