Question no 67 Chapter 1 – UNIMAX Class 12 Part 2 – 2021

Question no -67 Chapter no-1 Unimax Class-12 Part-II
Question no -67 Chapter no-1 Unimax Class-12 Part-II


Question No  67 Chapter 1 – UNIMAX  Class 12 Part 2 – 2021


A company offered 10,000 shares of ₹ 10,000 each payable as follows:
On application ₹ 3, on allotment ₹ 2, on first call ₹ 3, on second call ₹ 2, public has applied for 13,000 shares. Shares were allotted on pro-rata to the application of 12,000 shares. All the shareholder have paid the amount up to allotment except Mohan, the allotted of 200 share. His shares were for forfeited. First call was then made. Forfeited shares were reissued @ ₹ 9 per share, ₹ 8 called up. You are required to make the cash book and journal.

The solution of Question 67 Chapter 1 of +2 Part-2: –


Date  Particulars
 Shares Application A/cDr. 39,000 
 To Share capital A/c   30,000
 To Share allotment A/c   6,000
 To Bank A/c   3,000
 (Being share application a/c closed after adjusting excess amount allotment)    
 Share Allotment A/cDr. 20,000 
 To Shares capital A/c  20,000
 (Being share allotment money due on 10,000 shares @ ₹ 2 per share)    
 Share capital A/cDr. 1,000 
 To Share Allotment A/c  280
 To Share forfeited A/c  720
 (Being 200 share forfeited for non-payment of allotment money)    
 Shares first & final call A/cDr. 29,400 
 To Share capital A/c  29,400
 (Being first & final call money due on 9800 shares)    
 Share forfeited A/cDr. 720 
 To Capital reserve A/c  720
 (Being balance forfeited shares transferred to capital reserve A/c)    


Date  Particulars
AmountDate  ParticularsAmount
 To share application A/c39,000 By Share application A/c3000
 To share allotment A/c13,720 By Balance c/d80,920
 To share first & final call A/c29,400   
 To Securities premium A/c200   
 To share capital A/c1600   
  83,920  83,920
 Total b/d83,920   

Working Note:

 Shares appliedShares allotted
Lot 11000Nil
Lot 212,00010,000

1 Table showing adjustment of excess amount received on application.


 Lot 1Lot 2total
No. of shares applied10001200013,000
Less: no. of shares allottedNil10,00010,000
Over subscription1,0002,0003,000
Excess amount received on application30006,0009000
Less: amount adjusted on allotmentNil6,0006,000
Refunded to be made3000Nil3,000

2 Calculation of unpaid amount on allotment on 200 shares held by Mohan

No. of shares applied by a Mohan240shares
Amount received on application @ ₹ 3 (240*3)720
Less: actual application amount on 200 shares allotted to Mohan (200*3)600
Amount to be adjusted on allotment120
Amount due on allotment from Mohan (200*2)400
Less: amount already received now to be adjusted120
Unpaid amount on 200 shares of Ram on allotment280

3 Net Amount received on allotment

Total amount due on allotment (10,000 *2)20,000
Less: amount already adjusted an allotment6,000
Less: unpaid amount received on allotment280
Net amount received on allotment13,720

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Share Capital: Meaning, Types, and Classes

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

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

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Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements


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