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

Q-12 - CH-8 - Usha +2 Book 2018 - Solution

Question 12 Chapter 8 of +2-Part-1

12. (Premium in Application/Allotment) X Ltd. issued 10,000 shares of 10 each at a premium of Rs. 2 per share, payable as Rs. 2 per share on the application; Rs. 6 (including premium Re. 1) per share on allotment and Rs. 4 (including premium Re. 1) per share on final call. The issue was over-subscribed to the extent of 15,000 shares. Applicants for 12,000 shares were allotted only 1,000 shares and excess application money was adjusted towards allotment and call and Applicants for 4,000 shares were sent letters of regret and application money was returned. All the money was due on the allotment and the final call was received. Journalise the transactions.

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

## The solution of Question 12 Chapter 8 of +2 Part-1: –

 Analysis Table Shares Applied Shares Allotted App. Money Received App. Money adjusted towards Capital & Premium Surplus Allotment Money Due Surplus adjusted towards allotment Surplus 1st Call Money due Surplus adjusted towards 1st call Surplus Refund 1 2 (3) =(1) X Rs.2 (4)=(2) X Rs.6 (5)=(3) – (4) (6)=(2) X Rs6 7 (8)=(5) – (7) (9)=(2) X Rs. 4 10 (11)=(8)-(10) 12 4,000 8000 8,000 8,000 8,000 8,000 12,000 1,000 24,000 2,000 22,000 6,000 6,000 16,000 4,000 4,000 12,000 12,000 9,000 9,000 18,000 18,000 54,000 36,000 25,000 10,000 50,000 20,000 30,000 60,000 6,000 20,000 40,000 4,000 20,000 20,000
 Journal Date Particulars L.F. Debit Credit a) Bank A/c (25,000X2) Dr. 50,000 To Share Application A/c 50,000 (Being application money received on 25,000 share shares @ Rs. 2 per share) b) Share Application A/c (25,000X2) Dr. 50,000 To Share capital A/c 20,000 To Share Allotment A/c 6,000 To Calls in Advance A/c 4,000 To Bank A/c 20,000 (Being the transfer of share allotment A/c For 1,0000 shares @ Rs. 6 per share; to calls in advance for 1,000 shares @ Rs. 4 per share & Rs. 20,000 refunded to applicants ) c) Share Allotment A/c Dr. 60,000 To Share capital A/c 50,000 To Securities Premium A/c 10,000 (Being allotment due on 70,000 shares @ 65 per share including Rs, 20 per share ) d) Bank A/c (60,000-6,000) Dr. 54,000 To Share Allotment A/c 54,000 (Being money received on allotment of 10,000 share @ Rs. 6 as per shares less Rs. 6,000 of 1,000 share receivable along with app.) e) Share Allotment A/c (10,000X4) Dr. 40,000 To Share capital A/c 30,000 To Security Premium reserve A/c 10,000 (Being final call money due on 10,000 share @ 4 as per shares including premium Re. 1 per share ) f) Bank A/c (9,000X4) Dr. 36,000 Calls in advance A/c (1,000X4) Dr. 4,000 To Share final Call A/c (1,000X1) 40,000 (Being final call money received & balance transferred to calls – in advance A/c )

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

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

Question 18 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 3 Chapter 8 of +2-Part-1 – USHA Publication

Question 43 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 50 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)

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

## 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.