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

Posted by By Harveerjot Singh 5 Min Read July 13, 2024
Q-42- CH-8 - Usha +2 Book 2018 - Solution-min
Q-42- CH-8 - Usha +2 Book 2018 - Solution-min

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Question 42 Chapter 8 of +2-Part-1

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42. (Pro-rata allotment/Forfeiture/Reissue) AB Ltd. invited applications for 1,00,000 Equity shares of Rs. 10 each, payable as RS. 2 application, Rs. 3 on allotment and balance on first and final call. Applications were received for 3,00,000 shares and shares were allotted on pro-rata basis. The excess of application money was to be adjusted against allotment only. M, a shareholder, who was allotted 3,000 shares, failed to pay the call money and his shares were accordingly forfeited and reissued at Rs. 8 per shares as fully paid. Pass necessary journal entries

The solution of Question 42 Chapter 8 of +2 Part-1: –

Day 179 Solution of Questions 40 to 43 Share Capital Chapter 8 Accounts Part B class 12 PSEB
Watch this video on YouTube.

Journal
Date   Particulars
 L.F. Debit Credit
A) Bank A/c (3,00,000 X 2) Dr.   6,00,000  
  To Share Application A/c       6,00,000
  (Being application money received on 3,00,000 shares @ Rs. 2 per share)        
           
B)  Share Application A/c Dr.   6,00,000  
  To Share capital A/c     2,00,000
  To Share Allotment A/c     3,00,000
  To Bank A/c     1,00,000
  (Being application money adjusted )        
           
C) Share Allotment A/c (1,00,000 X3) Dr.   3,00,000  
  To Share capital A/c     3,00,000
  (Being allotment money due on 1,00,000 shares @ Rs. 3 per share )        
         
D) Share First & final Call A/c (1,00,000 X 5) Dr.   5,00,000  
  To Share capital A/c     5,00,000
  (Being first call money due on 1,00,000 shares @ Rs. 5 per share )      
         
E) Bank A/c (97,000 X 5) Dr.   4,85,000  
  Calls in arrear A/c Dr.   15,000  
  To Share First & final Call A/c     5,00,000
  (Being final call money received on 97,000 shares)      
         
F) Share capital A/c 3,000 X 10 Dr.   30,000  
  To Share Forfeited A/c     15,000
  To First & Final Call A/c(3,000 X 5 )     15,000
  (Being forfeitures of 3,000 shares )      
         
G) Bank A/c (3000 X8 ) Dr.   24,000  
  Share Fortified A/c (3000X2) Dr.   6,000  
  To Share capital A/c       30,000
  (Being 3000 shares reissued @2% discount )        
           
H) Share Fortified A/c (15,000-6,000) Dr.   9,000  
  To Capital Reserve A/c       9,000
  (Being balance in share fortified transferred to capital reserve)      

It all about Question 42 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 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

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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

Question 11 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

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

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

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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

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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

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

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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

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

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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

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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

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

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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

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

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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)

Chapter No. 9 – Company Accounts (Issue of Debentures)

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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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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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