Advertisement
Question 28 Chapter 8 of +2-Part-1
Advertisement
Table of Contents
28.(Forfeiture of Shares) Rajan was allotted 150 shares of Rs. 100 each by Duplex Company. He could not pay first call of Rs. 25 and final call of Rs. 15 on his shares, consequently, his shares were forfeited.
Pass entry for the forfeiture.
The solution of Question 28 Chapter 8 of +2 Part-1: –
Journal | |||||
Date | Particulars | L.F. | Debit | Credit | |
A) | Share capital A/c (150X 100) | Dr. | 15,000 | ||
To Share Forfeited A/c | 9,000 | ||||
To Calls in arrears A/c (150 X 40) | 6,000 | ||||
(Being forfeiture of 150 shares for non payment of first call & final call money ) |
It all about Question 28 Chapter 8 of +2-Part-1, If you have any problem please comment below.
Advertisement-X
Forfeiture of shares – Its accounting Entries
You can also Check out the solved question of other Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
Leave a Reply