Question 25 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 8 of +2-Part-1

25. (Shares Issued for Consideration other than Cash) Gurjap Ltd. purchased plant from Santosh for Rs. 3,78,000 payable in fully paid shares of Rs. 10 each pass journal entries when :
Shares are issued at par
Shares are issued at 20% premium.

The solution of Question 25 Chapter 8 of +2 Part-1: –

Working notes of Question 25 Chapter 8 of +2-Part-1:

WN – 1  – Calculation of Amount of Shares and premium when issued at 20% premium: –

Total Value of Share =  Face Value + Premium 
= 10 + (10 * 20/100)
= 10 + 2 
= 12/-

Now, We can calculated the total no. of share to be issued for purchase of plant

No. of Share =  Total purchase amount of plant / Total value of Share 
= 3,78,000 / 12
= 31,500

So now we can calculate the total amount of Share and Premium 

Total Face Value of Share =  No. of Shares X Face Value Per share 
= 31,500 X 10
= 3,15,000/-

Total amount of Security Premium =  No. of Shares X Premium Per share 
= 31,500 X 2
= 63,000/-

It all about Question 25 Chapter 8 of +2-Part-1, If you have any problem please comment below.

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)

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

Check out Part 1 of both books.

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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