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Question 41 Chapter 8 of Class 12 Part – 2 – 2024
41. (Forfeiture before Final Call) Raxon Company forfeited 500 shares of Rs. 10 each issued at 10% premium. Application money Rs. 4 (including premium) has been received. Allotment 3 has not been received. Final call has not been made pass forfeiture entry.
We are providing a solution of Question 41 Chapter 8 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 40 to 43 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 41 from the flowing video by using time stamps of the video.
Journal
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| A) | Share capital A/c | Dr. | 3,000 | ||
| To Share Forfeited A/c | 1,500 | ||||
| To Calls in arrears A/c | 1,500 | ||||
| (Being 500 shares forfeited , allotment money not received @ Rs. 3 per share ) | |||||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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