Question 11 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 11 Chapter 8 of +2- Part
Q-11 - CH-8 - Usha +2 Book 2018 - Solution

Question 11 Chapter 8 of +2-Part-1

11. (Oversubscription) Punjab Spinning Mill offered 70,000 shares of 100 each at a premium of 20 per share to public payable as follows:
Rs. 35 on application
Rs. 65 on allotment (including premium) Rs. 20 on final call.
Applications for 70.000 shares were received. Prepare Journal.

The solution of Question 11 Chapter 8 of +2 Part-1: –

Day 171 Solution of Questions 11 and 12 Share Capital Chapter 8 Accounts class 12

Journal
Date   Particulars
L.F. Debit Credit
a) Bank A/c Dr.   24,50,000  
  To Share Application A/c       24,50,000
  (Being application money received on 70,000 shares @ 35 per share )        
           
b) Share Application A/c Dr.   24,50,000  
  To Share capital A/c       24,50,000
  (Being application money of 70,000 shares transferred to share cap. A/c)        
           
c) Share Allotment A/c Dr.   45,50,000  
  To Share capital A/c       31,50,000
  To Securities Premium A/c       14,00,000
  (Being allotment due on 70,000 shares @ 65 per share including Rs, 20 per share )        
           
d) Bank A/c Dr.   45,50,000  
  To Share Allotment A/c       45,50,000
  (Being allotment money received )        
           
e) Share Final Call A/c Dr.   14,00,000  
  To Share capital A/c       14,00,000
  (Being final call due on 70,000 shares @ 20 per share )        
           
f) Bank A/c Dr.   14,00,000  
  To Share Final Call A/c       14,00,000
  (Being final call received )        
         

End of Solution

Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 8 – Company Accounts (Share Capital) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 05 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 15 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 21 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 30 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 40 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 51 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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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

Check out Part 1 of both books.

In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.

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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