Accounting entries of issue of Share (Basic Entries)

Accounting entries of issue of Share (Basic Entries)

Accounting entries of issue of Share (Basic Entries a)         On receiving the Application amount                  Bank Account   ... 9:43 PM

^{Accounting entries of issue of Share (Basic Entries}

^{a)        On receiving the Application amount}

                 ^{Bank Account                                     Dr.}

                       ^{To Share Application Account}

                 ^{(Being application amount received)}

^{b)       On transferring the application amount into capital account}

              ^{Share Application Account                  Dr}

                     ^{To Share Capital Account}

       ^{(Being transfer of application money into capital account)}

^{c)        On Allotment due}

               ^{Share Allotment Account                    Dr}

                      ^{To Share Capital Account}

             ^{(Being allotment amount due)}

^{d)       On Allotment amount received}

                ^{Bank Account                                    Dr}

                       ^{To Share Allotment Account}

               ^{(Being allotment amount received)}

^{e)        On First Call due}

                 ^{Share First Call Account                    Dr}

                        ^{To Share Capital Account}

                ^{(Being First call due)}

^{f)        On first call amount received}

                ^{Bank Account                                   Dr}

                      ^{To Share First Call Account}

                ^{(Being First Call amount received)}

^{g)       On Second or Final Call Due}

                ^{Second or Final Call Account              Dr}

                      ^{To Share Capital Account}

                 ^{(Being Second or Final call due)}

^{h)       On Second or Final Call amount received}

                 ^{Bank Account                                   Dr}

                        ^{To Second or Final Call Account}              

          ^{(Being Second or Final Call Account received)}