Advertisement

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

Question 18 Chapter 8 of +2- Part
Q-18 - CH-8 - Usha +2 Book 2018 - Solution

Question 18 Chapter 8 of +2-Part-1

18. (Expenses on Issue) Hemant Textiles Ltd. having a nominal capital of Rs. 10,00,000 in shares of Rs. 100 each invited applications for 5,000 shares payable as follows :
On application Rs. 20
On allotment Rs. 25
On first call Rs. 25
On second and final call Rs. 30
All the shares were subscribed and allotment made. All the money was received except final call on 100 shares. Expenses of issue came to 10,000. They are to be written off in the same year. Pass journal entries in the books of company.

Advertisement

Video Tag:

The solution of Question 18 Chapter 8 of +2 Part-1: –

Day 173 Solution of Questions 16 17 18 and 19 Share Capital Chapter 8 Accounts Part B class 12 PSEB

Advertisement

Journal
Date   Particulars
L.F. Debit Credit
a) Bank A/c (5,000 X 20) Dr.   1,00,000  
  To Share Application A/c       1,00,000
  (Being application money received)        
           
b) Share Application A/c Dr.   1,00,000  
  To Share capital A/c (5,000 X 20)       1,00,000
  (Being application money transferred to Share cap. A/c)        
           
c) Share Allotment A/c (5,000 X 25) Dr.   1,25,000  
  To Share capital A/c       1,25,000
  (Being allotment money due on 5,000 share @ 25 per shares)        
           
d) Bank A/c (5,000 X 25) Dr.   1,25,000  
  To Share allotment A/c       1,25,000
  (Being allotment money received on 5,000 share @ 25 as per shares)        
           
e) Share first Call A/c (5,000 X 25) Dr.   1,25,000  
  To Share capital A/c       1,25,000
  (Being first call money due on 5,000 share @ 25 per shares)        
           
f) Bank A/c (5,000 X 25) Dr.   1,25,000  
  To Share first Call A/c       1,25,000
  (Being first call money received on 5,000 share @ 25 per shares)        
           
g) Share second & final Call A/c (5,000 X 30) Dr.   1,50,000  
  To Share capital A/c       1,50,000
  (Being final call money due on 5,000 share @ 30 per shares)        
           
h) Bank A/c (5,000 X 30) Dr.   1,47,000  
  Calls in arrear A/c Dr.   3,000  
  To Share second & final Call A/c       1,47,000
  (Being second & final call money received on 5,000 share @ 30 per shares)        
           
i) Share Issue Expense A/c Dr.   10,000  
  To Bank A/c       10,000
  (Being share issue expenses paid )        
           
j) Profit & Loss A/c Dr.   2,000  
  To Share Issue Expense A/c       2,000
  (Being one fifth of the expenses written off )        
         

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

Advertisement-X

Advertisement-Y

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

Advertisement-X

Advertisement-Y

Question 35 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Advertisement-X

Advertisement-Y

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

Advertisement-X

Advertisement-Y

Thanks for completing the chapter. If you understand the question or we have helped you with your homework, please share our website on your social media. We are delighted to help you out.

Thanks again.


End of Post

Download a PDF of Chapter No. 8 – Company Accounts (Share Capital):

If you want to download a PDF of this chapter then you can do it. Check out our PDF file on our Store page.

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

Advertisement-X

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

Advertisement

error: Content is protected !!