Account

In: Business and Management

Submitted By library2040
Words 2767
Pages 12
Question 1
Date | Account Name | Dr | Cr |
1-Apr-12 | No entry required until shares are allotted |   |   |
  |   |   |   |
30-Apr-12 | Cash Trust | 1,700,000 |   |
  | Application |   | 1,700,000 |
  |   |   |   |
5-May-12 | Application | 1,700,000 |   |
  | Share Capital |   | 1,500,000 |
  | Allotment |   | 200,000 |
  | Cash at Bank | 1,700,000 |   |
  | Cash Trust |   | 1,700,000 |
  |   |   |   |
8-May-12 | Cash at Bank | 550,000 |   |
  | Allotment |   | 550,000 |
  | Allotment | 750,000 |   |
  | Share Capital |   | 750,000 |
  |   |   |   |
10-May-12 | Formation Cost | 2,000 |   |
  | Share Issue Cost | 1,000 |   |
  | Cash at Bank |   | 3,000 |
  | (Forming the company and share issue cost) |   |   |
  |   |   |   |
8-Aug-12 | First Call | 375,000 |   |
  | Share Capital |   | 375,000 |
  | Cash at Bank | 347,500 |   |
  | First Call |   | 347,500 |
  |   |   |   |
8-Nov-12 | Second Call | 375,000 |   |
  | Forfieted share account |   | 375,000 |
  | Cash at Bank | 3,325,000 |   |
  | Second Call |   | 3,325,000 |
  |   |   |   |
10-Mar-13 | Share Capital | 340,000 |   |
  | First Call |   | 27,500 |
  | Second Call |   | 42,500 |
  | Forfieted share account |   | 270,000 |
  |   |   |   |
25-Mar-13 | Cash at Bank | 306,000 |   |
  | Forfieted share account | 34,000 |   |
  | Share Capital |   | 340,000 |
  | Forfieted share account | 2,500 |   |
  | Cash at Bank |   | 2,500 |

Question 2
Date | Account Name | Dr | Cr |
1-Jan-13 | Accumulated depreciation of Plant A | 135,000 |   |
  | Plant A |   | 90,000 |
  | Revaluation Surplus of Plant A |   | 45,000 |
  | Accumulated depreciation of Plant B | 40,000 |   |
  | Plant B |   | 25,000 |
  | Revaluation Surplus of Plant B |   | 15,000 |
  |   |   |   |
...