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

Posted by By Harveerjot Singh 4 Min Read July 13, 2024
Q-43 - CH-8 - Usha +2 Book 2018 - Solution-min

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Question 43 Chapter 8 of +2-Part-1

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43. (Prorata Allotment/Forfeiture) A Ltd. invited applications for issuing 80,000 shares of Rs. 10 each at a premium of Rs. 4 per share. The amount was payable as follows:
On Application Rs.5 per share
On Allotment Rs. 9 per share (including premium)
Applications were received for 1,40,000 shares.
Allotment was made on the following basis:
(i)To applicants for 80,000 shares- 60,000 shares.
(ii)To applicants for 60,000 shares – 20,000 shares.
Money over paid on applications was utilized towards sum due on allotment. Rajiv, who had applied for 1,200 shares in the first category failed to pay his dues and his shares were forfeited.
Pass Journal Entries in the books of A Ltd to record the above transactions.

The solution of Question 43 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.DebitCredit
A)Bank A/c (1,40,000 X 5)Dr. 7,00,000 
 To Share Application A/c   7,00,000
 (Being the receipt of application money)    
      
B) Share Application A/cDr. 7,00,000 
 To Share capital A/c  4,00,000
 To Share Allotment A/c  2,80,000
 To Bank A/c  20,000
 (Being 80,000 shares allotted excess retained for allotment & refuned    
      
C)Share allotment A/cDr. 7,20,000 
 To Share capital A/c  4,00,000
 To Securities Premium Reserve A/c  3,20,000
 (Being amount due on allotment )    
     
D)Bank A/cDr. 4,33,400 
 Calls in arrears A/cDr. 6,600 
 To Share allotment A/c  4,40,000
 (Being amount received on allotment of 900 share )   
     
E)Share capital A/cDr. 9,000 
 Securities Premium Reserve A/cDr. 3,600 
 To Share Forfeited A/c  6,000
 To Calls in Arrears A/c  6,600
 (Being 600 shares fortified)   

Working Notes :

1 . Allotment Received 
Allotment money due7,20,000
(-) Allotment money adjusted2,80,000
 4,40,000
(-) Allotment not paid (Rajiv)6,600 (WN2)
Allotment money received4,33,400
  
2. Allotment not paid by Rajiv 
Shares applied by Rajiv1,200
Shares allotted to Rajiv (1,200 X 60,000/80,000)900
Excess money Received by Rajiv (300X5)1,500
Allotment money due of Rajiv (900 X 9)8,100
Allotment money received6,600

It all about Question 43 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

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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

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

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

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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 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

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

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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

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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

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

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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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