Question 14 Chapter 8 of Class 12 Part – 2 – 2024
14. (Call in Arrears) Gujrat Steels Ltd., invited applications for 60,000 equity shares of Rs. 10 each. Amount being payable Rs. 3 on application : Rs. 4 on allotment and balance on final call. Applications for 50,000 shares were received. Expenses on issue were Rs. 4,000. Final call was not received on 500 shares. Pass entries in Journal.
The solution of Question 14 Chapter 8 of Class 12 Part – 2 – 2024: –
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2. Check out the Solution of Question 14 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| a) | Bank A/c | Dr. | 1,50,000 | ||
| To Share Application A/c | 1,50,000 | ||||
| (Being application money received on 50,000 share shares @ Rs. 3 per share) | |||||
| b) | Share Application A/c | Dr. | 1,50,000 | ||
| To Equity Share capital A/c | 1,50,000 | ||||
| (Being the transfer of app. Amount to Share cap. A/c) | |||||
| c) | Share Allotment A/c | Dr. | 2,00,000 | ||
| To Share capital A/c | 2,00,000 | ||||
| (Being allotment money due on 50,000 share @ 4 as per shares) | |||||
| d) | Bank A/c | Dr. | 2,00,000 | ||
| To Share allotment A/c | 2,00,000 | ||||
| (Being allotment money received in full ) | |||||
| e) | Share final Call A/c | Dr. | 1,50,000 | ||
| To Share capital A/c | 1,50,000 | ||||
| (Being final call money due on 50,000 share @ 3 as per shares) | |||||
| f) | Bank A/c | Dr. | 1,48,500 | ||
| Calls in arrears A/c | Dr. | 1,500 | |||
| To Share final Call A/c | 1,50,000 | ||||
| (Being final call money received & balance transferred to calls – in arrears A/c ) | |||||
| g) | Expenses on Issue A/c | Dr. | 4,000 | ||
| To Bank A/c | 4,000 | ||||
| (Being share issue expenses paid ) | |||||
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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)
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 – Ratio Analysis
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication