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

Posted by By Harveerjot Singh 5 Min Read July 13, 2024
Q-34- CH-8 - Usha +2 Book 2018 - Solution-min
Q-34- CH-8 - Usha +2 Book 2018 - Solution-min

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Question 34 Chapter 8 of +2-Part-1

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34. Journalise the following transactions in the books of Poonam Ltd. :
(i) (Issue at Premium/Forfeiture/Reissue at Premium) 50 shares of Rs. 10 each issued at a premium of Rs. 5 each payable with allotment were forfeited for the non payment of allotment money of Rs. 9 per share including premium. The first and final call on these shares at Rs. 3 per share were not made. The forfeited shares were re issued @ Rs. 12 per share fully paid up.

(ii) (Issue at Par/Reissue at Discount) 1000 shares of Rs. 10 each issued at par were forfeited for the non payment of the final call of Rs. 2 per share. These shares were re issued @ Rs. 8 per share fully paid up

The solution of Question 34 Chapter 8 of +2 Part-1: –

Day 177 Solution of Questions 29 to 35 Share Capital Chapter 8 Accounts Part B class 12 PSEB
Watch this video on YouTube.

Journal
Date  Particulars
L.F.DebitCredit
A)Share capital A/c (50 X 7)Dr. 350 
 Securities Premium Reserve A/c (50X 5)Dr. 250 
 To Share Allotment A/c (50X 9)   450
 To Share Forfeited A/c (50X 3)   150
 (Being forfeiture of 50 shares due to non receipt of allotment money @ RS. 9 per share )   
     
 Bank A/c (50X 12)Dr. 600 
 To Share Capital A/c (50X 10)  500
 To Securities Premium Reserve A/c (50X 2)  100
 (Being reissue of 50 share at premium of Rs. 2 per share )   
     
 Share Fortified A/c (150- Nil)Dr. 150 
 To Capital Reserve A/c  150
 (Being balance in share fortified transferred to capital reserve)   
     
B)Share capital A/c ( 1000 X 10)Dr. 10,000 
 To Share Forfeited A/c ( 1000 X 8)  8,000
 To Share final call A/c ( 1000 X 2)  2,000
 (Being forfeitures of 1000 shares for non receipt of Final call of Rs. 2 per share )   
     
 Bank A/c (1000 X 8 )Dr. 8,000 
 Share Fortified A/c (1000X2)Dr. 2,000 
 To Share capital A/c (10,000 X 10)  10,000
 (Being fortified shares issued at discount )   
     
 Share Fortified A/c (8000-2000)Dr. 6,000 
 To Capital Reserve A/c  6,000
 (Being balance in share fortified transferred to capital reserve)   

It all about Question 34 Chapter 8 of +2-Part-1, If you have any problem please comment below.

Forfeiture of shares – Its accounting Entries

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

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

Question 03 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 04 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 05 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 06 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 07 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 08 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 09 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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Question 11 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

Question 13 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 14 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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Question 17 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

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

Question 20 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

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

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

Question 23 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

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

Question 28 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

Question 31 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

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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

Question 39 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 40 Chapter 8 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 41 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

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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

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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

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-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)

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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

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Chapter No. 15 – Cash Flow Statement

Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication

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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 1 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 1 Class 12 by Unimax Publication

Advanced Accountancy II Part 1 Class 12 – Solution for free

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