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: –
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
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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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