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

Question 26 Chapter 8 of +2-Part-1

26. (Forfeiture of Shares) P Ltd issued 2,000 shares of 100 each payable as follows:
On application Rs. 30
On allotment Rs. 40
On first call Rs. 20
On final call Rs. 10.
Applications for 1,800 shares were received. Manjit did not pay two calls on his 100 shares and Jaswant did not pay final call on his 50 shares.
Shares Manjit and Jaswant were forfeited. Pass entries in Journal

The solution of Question 26 Chapter 8 of +2 Part-1: –

Day 176 Solution of Questions 26 27 and 28 Share Capital Chapter 8 Accounts Part B class 12 PSEB

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Journal
Date	Particulars		L.F.	Debit	Credit
A)	Bank A/c (1,800 X 30)	Dr.		54,000
	To Share Application A/c				54,000
	(Being application money received on 1,800 shares @ Rs. 30 per share)

B)	Share Application A/c	Dr.		54,000
	To Share capital A/c				54,000
	(Being application money transferred to Share cap. A/c)

C)	Share Allotment A/c (1,800 X 40)	Dr.		72,000
	To Share capital A/c				72,000
	(Being allotment money due on 1,800 share @ 40 per shares)

D)	Bank A/c (1,800 X 40)	Dr.		72,000
	To Share allotment A/c				72,000
	(Being allotment money received in full)

E)	Share first Call A/c (1,800 X 20)	Dr.		36,000
	To Share capital A/c				36,000
	(Being first call money due on 1,800 share @ 20 per shares)

F)	Bank A/c (1,700 X 20)	Dr.		34,000
	Call in arrears A/c (100 X 20)	Dr.		2,000
	To Share first Call A/c				36,000
	(Being first call money received on 1,700 share @ 20 per shares & balance in calls in arrears )

G)	Share final Call A/c (1,800 X 10)	Dr.		18,000
	To Share capital A/c				18,000
	(Being final call money due on 1,800 share @ 10 per shares)

H)	Bank A/c (1,650 X 10 )	Dr.		16,500
	Call in arrears A/c (150 X 10)	Dr.		1,500
	To Share final Call A/c				18,000
	(Being second & final call money received on 1,650 share @ 10 per shares & balance in calls in arrears )

I)	Share capital A/c	Dr.		15,000
	To Share Forfeited A/c				11,500
	To Call in arrears A/c				3,500
	(Being forfeitures of 150 shares )

It all about Question 26 Chapter 8 of +2-Part-1, If you have any problem please comment below.

Forfeiture of shares – Its accounting Entries

End of Solution

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Question 02 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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Question 19 B Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19 C Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 19D Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 22 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 24 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 25 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 46 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 27 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 29 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 33 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 34 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

Question 36 Chapter 8 of +2-Part-1 – USHA Publication

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

Question 38 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 42 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

Question 44 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 45 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 47 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 48 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 49 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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Question 51 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 52 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 53 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Chapter No. 8 – Company Accounts (Share Capital)

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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

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