Dinesh Ltd. invited applications for issuing 10,000 Equity Shares of Rs. 10 each. The amount was payable as follows;
On Application                      - Rs.1
On Allotment                         - Rs.2
On First call                           - Rs.3
On Second and Final Call  - Balance.
Issue was fully subscribe. Ram to whom 100 shares were allotted, failed to pay the allotment money and his shares were forfeited immediately after allotment. Shyam to whom 150 shares were allotted, failed to pay the first call. His shares were also forfeited after the first call. After wards the second and final call was made. Mohan to whom 50 shares were allotted at Rs.9 per share fully paid up. Pass the necessary journal entries in the book of Dinesh Ltd.

A Ltd forfeited 200 shares of Rs 10 each, Rs 7 called-up on which M had paid application and allotment money of Rs 5 per share. Of these, 150 shares were re-issued to N as fully paid-up for Rs 6 per share. Pass necessary journal entries.

A Ltd forfeited 300 shares of Rs 10 each fully called-up, held by Zee for non-payment of allotment money of Rs 3 per share and final call of Rs 4 per share. He had paid the application money of Rs 3 per share. These shares were re-issued to Cee for Rs 8 per share. Pass necessary journal entries.

A company purchased a running business from Zee Ltd for a sum of Rs 15,00,000 payable Rs 12,00,000 in fully paid shares of Rs 10 each and balance through cheque. The assets and liabilities consisted of the following

You are required to pass necessary journal entries in the company's books.

Vikas Ltd purchased furniture for Rs 30,00,000 from Sambhav Ltd Rs 10,000 were paid by drawing a promissory note in favour of Sambhav Ltd. The balance was paid bu issue of equity shares pf Rs 10 each at a premium of 25%. Pass necessary journal entries in the books of Vikas Ltd. Identify the value shown by the company in issuing shares for consideration other than cash.

X Ltd purchased machinery for Rs 5,00,000 from Y Ltd. Half of the amount was paid by accepting a bill of exchange drawn by Y Ltd payable after three months. The balance was paid by issue of equity shares of Rs 10 each at a premium of 25%.

Pass necessary journal entries in the books of X Ltd for these transactions.

Sundram Ltd purchased furniture for Rs 3,00,000 from Ravindram Ltd Rs 1,00,000 were paid by drawing a promissory note in favour of Ravindram Ltd. the balance was paid by issue of equity shares of Rs 10 each at apremium of 25%.

Pass necessary journal entries in the books of Sundram Ltd. Also, identify the value shown by the company in issuing shares for consideration other than cash,

Rohit Ltd purchased assets from Rohit and Co for Rs 3,50,000. A sum of Rs 75,000 was paid by means of a bank draft and for the balance due, Rohit Ltd issued equity shares of Rs 10 each at a premium of 10% Journalise the above transactions in the books of the company.

Pass necessary journal entries for the following transactions in the books of Gopal Ltd.
(i) purchased furniture for Rs 2,50,000 from M/s Furniture Mart. The payment to M/s Furniture Mart was made by issuing equity shares of Rs.10 each at a premium of 25%.
(ii) Purchased a running business from Aman Ltd for a sum of Rs 15,00,000. The payment of Rs 12,00,000 was made by issue of fully paid equity shares of Rs 10 each and balance by a bank draft.
The assets and liabilities consisted of the following
Plant Rs 3,50,000, stock Rs 4,50,000, Land and building Rs 6,00,000, sundry creditors Rs 1,00,000.

Rishabh Ltd forfeited 3,000 shares of  Rs 10 each issued at a premium of Rs 2 each held by Samir who had applied for 3,750 shares, for non-payment of allotment money of Rs 2.50 (including premium) per share, first call money of Rs 3 per share and second and final call money of Rs 2.50 per share. Out of 3,000 shares, 1,000 shares were re-issued at Rs 6 per share as fully paid. Joutnalise.

Give the journal entries to record the following transactions for forfeiture and re-issue of shares and open share forfeited account in the books of the respective companies. l Ltd forfeited 470 equity shares of Rs 10 each issued at a premium of Rs 5 per share for non-payment of allotment money of Rs 8 per share (including share premium of Rs 5 per share) and the first and final call of Rs 5 per share. Out of these, 60 equity shares were subsequently re-issued at Rs 14 per share. 

Samta Ltd forfeited 800 equity shares of Rs 100 each for the non-payment of first call of Rs 30 per share. The final call of Rs 20 per share was not yet made. Out of the forfeited shares, 400 were re-issued at the rate of Rs 105 per share fully paid-up. Pass necessary journal entries in the books of Samta Ltd for the above transactions.

PS Ltd forfeited 500 shares of Rs 100 each for the non-payment of first call of Rs 30 per share. The final call of Rs 10 per share was not yet made. The forfeited shares were re-issued for Rs 65,000 fully paid-up. Pass necessary journal entries for the books of the company.

The directors of a company forfeited 600 shares of Rs 10 each issued at a premium of Rs 3 per share, for the non-payment of the first call money of Rs 3 per share. The final call of Rs 2 per share has not been made. Half the forfeited shares were re-issued at Rs 3,000 fully paid. Record the journal entries for the forfeited shares and re-issue of shares.