Question 10 Chapter 8 of +2-Part-1
10. (Issue at Premium/Call in Arrears) Amritsar Fan Company issued 25,000 shares of Rs. 10 each at 20% premium Applications for 20,000 shares were received.
Amount was payable as follows:
On application Rs. 3
On allotment Rs. 6 ( Premium 2)
On first & final call Rs. 3
On 2,000 shares final call was not received.
Pass journal entries and prepare cash book.
The solution of Question 10 Chapter 8 of +2 Part-1: –
Journal |
|||||
Date | Particulars |
L.F. | Debit | Credit | |
a) | Share Application A/c | Dr. | 60,000 | ||
To Share capital A/c | 60,000 | ||||
(Being 20,000 shares allotted ) | |||||
b) | Share Allotment A/c | Dr. | 1,20,000 | ||
To Share capital A/c | 80,000 | ||||
To Security Premium A/c | 40,000 | ||||
(Being allotment due) | |||||
c) | Share First & Final Call A/c | Dr. | 60,000 | ||
To Share capital A/c | 60,000 | ||||
(Being final call due ) | |||||
d) | Calls in arrears A/c | Dr. | 6,000 | ||
To Share First & Final Call A/c | 6,000 | ||||
(Being call in arrears on 2,000 shares @ 3 on final call) | |||||
Cash Book (Bank Cloumn only) |
|||
Particulars |
Amount | Particulars | Amount |
To Share application A/c | 60,000 | By Balance c/d | 2,34,000 |
To Share allotment A/c | 1,20,000 | ||
To Share final call A/c | 54,000 | ||
2,34,000 | 2,34,000 |
End of Solution
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
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Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Accounting Ratios
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication
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