Date 2015 June 1 (Note 1) June 1 Particulars L.F. Dr. ) Cr. R) Share Application A/c Dr. Dr To Share Capital A/C 2,00,000 (Application money transferred to Share Capital A/c) 2,00,000 Share Allotment A/C Dr. 2,00,000 To Share Capital A/C 2,00,000 (Money due on share allotment transferred to Share Capital A/C) Share First Call A/C Dr. 1,60,000 To Share Capital A/C 1,60,000 (Money due on Share First call transferred) Nov. 1 Nov. 1 Dr 1,200 Calls in auvance A/C To Share First Call A/C (Calls in advance on 600 shares adjusted) 1,200 2016 Feb. 1 Dr. 2,40,000 2,40,000 Share Second & Final Call A/C To Share Capital A/C (Money due on Share Second Call transferred) Calls in advance A/C To Share Second Call A/C (Calls in advance on 600 shares adjusted) Feb. 1 Dr. 1,800 1,800 Working Notes: (1) Share Application A/c will be transferred to the Share Capital A/c on the date of allotment On 1st February 2016, Raj Ltd. received in advance the first call of 25 per share on 400 equity shares. The first call was due on 31st March 2016. Journalise the above transactions. 732 Raj Ltd. JOURNAL Date Particulars L.F. Dr. (*) Cr.(R) 2016 Bank A/C Dr 10,000 Feb. 11 To Calls-in-Advance A/C (First call money received in advance on 400 equity shares) 10,000 Dr March Call-in-Advance A/C 31 To Equity Share 1st Call A/C (Amount transferred from calls-in-Advance account) 10,000 10,000 A limited Company was registered with a capital of 5,00,000 in shares of 10 each and issued 20,000 such shares at a premium of 2 per share, payable as 33 per share on application, 24 per share on allotment (including premium) and 2 per share on first call made three months later. All the money payable on application and allotment were duly received but when the first call was made, one shareholder paid the entire balance on his holdings of 300 shares, and another shareholder holding 1,000 shares failed to pay the first call money