Journal Entry - Share Capital

27 July 2021

Issued 1111 shares at Rs. 2000/- at premium to a company on 01/03/2021 for which payment was received on 04/06/2021.

Please help me with the journal entries.

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8 Replies

Komal Barapatre (210 Points)
Replied 28 July 2021

Bank a/c dr. (total amount received)
To share capital a/c (total face value)
To securities premium a/c (total premium)

PRIYANKA KAVILKAR (9 Points)
Replied 28 July 2021

The amount is not received in FY 2020-21 but the shares are issued and as per MCA.

Hari Beldona (ACA) (1533 Points)
Replied 28 July 2021

Share Capital Receivable a/c dr
To shared premium a/c
To Share capital a/c

PRIYANKA KAVILKAR (9 Points)
Replied 28 July 2021

Thank you for the help.

Hari Beldona (ACA) (1533 Points)
Replied 28 July 2021

When amount received
Bank a/c. Dr
To Share capital receivable a/c

PRIYANKA KAVILKAR (9 Points)
Replied 29 July 2021

If Authorised Capital is increased from Rs. 1,00,000/- to Rs. 1,25,000/- in MCA

Are we suppose to pass journal entry in Accounts?

Hari Beldona (ACA) (1533 Points)
Replied 29 July 2021

No journal Entry for increase in share capital. In balance sheet increased Authorised Capital

PRIYANKA KAVILKAR (9 Points)
Replied 29 July 2021

Thank you for the help with entries on time.

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