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 |
| | | |…...