Question 18 Chapter 8 of Class 12 Part – 2 – 2024
18. (Expenses on Issue) Hemant Textiles Ltd. having a nominal capital of Rs. 10,00,000 in shares of Rs. 100 each invited applications for 5,000 shares payable as follows :
On application Rs. 20
On allotment Rs. 25
On first call Rs. 25
On second and final call Rs. 30
All the shares were subscribed and allotment made. All the money was received except final call on 100 shares. Expenses of issue came to 10,000. They are to be written off in the same year. Pass journal entries in the books of company.
The solution of Question 18 Chapter 8 of Class 12 Part – 2 – 2024: –
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The video consists solution of question numbers from 16 to 19 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 18 from the flowing video by using time stamps of the video.
2. Check out the Solution of Question 18 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| a) | Bank A/c (5,000 X 20) | Dr. | 1,00,000 | ||
| To Share Application A/c | 1,00,000 | ||||
| (Being application money received) | |||||
| b) | Share Application A/c | Dr. | 1,00,000 | ||
| To Share capital A/c (5,000 X 20) | 1,00,000 | ||||
| (Being application money transferred to Share cap. A/c) | |||||
| c) | Share Allotment A/c (5,000 X 25) | Dr. | 1,25,000 | ||
| To Share capital A/c | 1,25,000 | ||||
| (Being allotment money due on 5,000 share @ 25 per shares) | |||||
| d) | Bank A/c (5,000 X 25) | Dr. | 1,25,000 | ||
| To Share allotment A/c | 1,25,000 | ||||
| (Being allotment money received on 5,000 share @ 25 as per shares) | |||||
| e) | Share first Call A/c (5,000 X 25) | Dr. | 1,25,000 | ||
| To Share capital A/c | 1,25,000 | ||||
| (Being first call money due on 5,000 share @ 25 per shares) | |||||
| f) | Bank A/c (5,000 X 25) | Dr. | 1,25,000 | ||
| To Share first Call A/c | 1,25,000 | ||||
| (Being first call money received on 5,000 share @ 25 per shares) | |||||
| g) | Share second & final Call A/c (5,000 X 30) | Dr. | 1,50,000 | ||
| To Share capital A/c | 1,50,000 | ||||
| (Being final call money due on 5,000 share @ 30 per shares) | |||||
| h) | Bank A/c (5,000 X 30) | Dr. | 1,47,000 | ||
| Calls in arrear A/c | Dr. | 3,000 | |||
| To Share second & final Call A/c | 1,47,000 | ||||
| (Being second & final call money received on 5,000 share @ 30 per shares) | |||||
| i) | Share Issue Expense A/c | Dr. | 10,000 | ||
| To Bank A/c | 10,000 | ||||
| (Being share issue expenses paid ) | |||||
| j) | Profit & Loss A/c | Dr. | 2,000 | ||
| To Share Issue Expense A/c | 2,000 | ||||
| (Being one fifth of the expenses written off ) | |||||
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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.
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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication