Question 26 Chapter 8 of Class 12 Part – 2 – 2024
26. (Oversubscription/ Prorata Allotment) Pilot Lad issued 10,000 equity shares of Rs. 10each , payable Rs. 2 on application, Rs. 3 on allotment and balance on first and final call.
Applications were received for 12,000 shares and shares were allotted as under :
Applicants for 8,000 shares were allotted in full, those who applied for 3,000 shares were allotted 2,000 shares and applications for 1,000 shares were rejected. Whole of the money was called and received. Pass the necessary journal entries in the books of company.
The solution of Question 26 Chapter 8 of Class 12 Part – 2 – 2024: –
We are providing a solution of Question 26 Chapter 8 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
1. Check out the Solution of this question in Video Format:-
The video consists solution of question numbers from 26 to 28 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 26 from the flowing video by using time stamps of the video.
2. Check out the Solution of Question 26 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format:-
| Category | Applied | Allotted |
| Full | 8,000 | 8,000 |
| Pro – Rate | 3,000 | 2,000 |
| Refund | 1,000 | |
| 12,000 | 10,000 |
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| a) | Bank A/c (12,000X2) | Dr. | 24,000 | ||
| To Equity Share Application A/c | 24,000 | ||||
| (Being application money received on 12,000 equity shares @ Rs. 2 per share ) | |||||
| b) | Share Application A/c | Dr. | 24,000 | ||
| To Equity Share capital A/c | 20,000 | ||||
| To Equity Share allotment A/c | 2,000 | ||||
| To Bank A/c | 2,000 | ||||
| (Being 10,000 shares allotted & excess money refunded ) | |||||
| c) | Equity Share Allotment A/c | Dr. | 30,000 | ||
| To Equity Share capital A/c | 30,000 | ||||
| (Being allotment money due on 10,000 equity shares @ Rs. 3 per share ) | |||||
| d) | Bank A/c (30,000 – 2,000) | Dr. | 28,000 | ||
| To Equity Share allotment A/c | 28,000 | ||||
| (Being the receipt of the balance of the amount due on allotment ) | |||||
| e) | Equity Share first & final Call A/c | Dr. | 50,000 | ||
| To Equity Share capital A/c | 50,000 | ||||
| (Being first & final call money due on 10,000 equity share @ Rs. 5 per share ) | |||||
| f) | Bank A/c | Dr. | 50,000 | ||
| To Equity Share first & final Call A/c | 50,000 | ||||
| (Being first call money received in full) | |||||
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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