Question 32 Chapter 8 of +2-Part-1 - USHA Publication 12 Class Part

Question 32 Chapter 8 of +2-Part-1

32. (Oversubscription/Prorata Allotment/Forfeiture/Reissue) KK Ltd., issued 6,000 shares of Rs. 100 each at par. Applications for 8,000 shares were received. Amount is payable RS. 30 on application ; Rs. 45 on allotment and Rs. 25 on final call. Excess money received on application was retained for allotment. Hari holding 500 shares did not pay final call, therefore, his shares were forfeited. These shares were reissued to Garry at 85 fully paid up.
Pass forfeiture entry

The solution of Question 32 Chapter 8 of +2 Part-1: –

Day 177 Solution of Questions 29 to 35 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 (8,000 X 30)	Dr.		2,40,000
	To Share Application A/c				2,40,000
	(Being application money received)

B)	Share Application A/c	Dr.		2,40,000
	To Share capital A/c				1,80,000
	To Share Allotment A/c				60,000
	(Being application money transferred to Share cap. A/c)

C)	Share Allotment A/c	Dr.		2,70,000
	To Share capital A/c				2,70,000
	(Being allotment money due )

D)	Bank A/c (2,70,000-60,000)	Dr.		2,10,000
	To Share allotment A/c				2,10,000
	(Being allotment money received in full)

E)	Share final Call A/c	Dr.		1,50,000
	To Share capital A/c				1,50,000
	(Being first call money due)

F)	Bank A/c (5,500 X 25)	Dr.		1,37,500
	Call in arrears A/c (500 X 25)	Dr.		12,500
	To Share final Call A/c				1,50,000
	(Being final call money received on 5,500 share & arrears On 500 shares)

G)	Share capital A/c	Dr.		50,000
	To Share Forfeited A/c				37,500
	To Call in arrears A/c				12,500
	(Being forfeitures of 500 shares )

H)	Bank A/c (500 X 85 )	Dr.		42,500
	Share Fortified A/c (500X15)	Dr.		7,500
	To Share capital A/c				50,000
	(Being 500 shares reissued @ Rs. 85 )

I)	Share Fortified A/c (37,500 – 7,500)	Dr.		30,000
	To Capital Reserve A/c				30,000
	(Being balance in share fortified transferred to capital reserve)

It all about Question 32 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 19 A Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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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

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

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Question 32 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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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