Question no 39 Chapter 1 - Unimax Class 12 Part 2

Question No 39 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 39 Chapter 1 of +2 Part-2: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Rohit Ltd. forfeited 800 equity shares of ₹ 10each for the non-payment of first and final call of ₹ 3 per shares. The forfeited shares were reissued for ₹ 12 per shares. Pass the necessary journal entries in the books of the company.
(capital reserve = ₹ 5,600)

The solution of Question 39 Chapter 1 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
	Shares capital A/c	Dr.		8000
	To Shares forfeited A/c				900
	To shares final call A/c				2,400
	(Being 800 shares forfeited for non-payment of first & final call)
	Bank A/c	Dr.		9,600
	Shares forfeited A/c	Dr.			8,000
	To Securities Premium reserve A/c				1,600
	(Being reissued of 800 shares @ 12)
	Shares forfeited A/c	Dr.		5,600
	To Capital reserve A/c				5,600
	(Being transfer of forfeited share account to capital reserve)