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VDO+ Tag:Question 27 Chapter 8 of Class 12 Part – 2 – 2024
23. (Oversubscription/ Prorata Allotment) Voltas Ltd. has issued prospectus inviting applications for 43,000 shares of Rs. 20 each payable Rs. 8 on application : Rs. 7 on allotment and Rs. 5 on final call. Applications for 83,000 shares were received. Due to over subscription the allotment was made as follows :
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Video Tag:| Category | Shares applied | Shares allotted |
| 1 | 8,000 | 8,000 |
| 2 | 12,000 | 9,000 |
| 3 | 18,000 | 11,000 |
| 4 | 45,000 | 15,000 |
| 83,000 | 43,000 |
You are required to prepare a statement treatment under the following:
- When application money received in excess is not retained.
- When application money received in excess is retained for allotment.
- When application money received in excess is retained for allotment and call.
The solution of Question 27 Chapter 8 of Class 12 Part – 2 – 2024: –
We are providing a solution of Question 27 Chapter 8 of Class 12 Part – 2 – 2024 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. 27 from the flowing video by using time stamps of the video.
2. Check out the Solution of Question 27 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| A) | Bank A/c | Dr. | 6,64,000 | ||
| To Share Application A/c | 6,64,000 | ||||
| (Being application money received on 83,000 share shares @ Rs. 8 per share) | |||||
| For case (a) (check WN-1) | |||||
| B) | Share Application A/c | Dr. | 6,64,000 | ||
| To Share capital A/c | 3,44,000 | ||||
| To Bank A/c | 3,20,000 | ||||
| (Being the application money transferred to share capital A/c & excess refunded ) | |||||
| For case (b) (check WN-2) | |||||
| B) | Share Application A/c | Dr. | 6,64,000 | ||
| To Share capital A/c | 3,44,000 | ||||
| To Share Allotment A/c | 1,85,000 | ||||
| To Bank A/c | 1,35,000 | ||||
| (Being application money adjusted as per board resolution ) | |||||
| For case (c) (check WN-3) | |||||
| B) | Share Application A/c | Dr. | 6,64,000 | ||
| To Share capital A/c | 3,44,000 | ||||
| To Share Allotment A/c | 1,85,000 | ||||
| To Calls in advance A/c | 75,000 | ||||
| To Bank A/c | 60,000 | ||||
| (Being application money adjusted as per board resolution ) | |||||
Working notes
WN-1 – When application money received in excess is not retained.
| Categories | Shares Applied | Shares Allotted | App. Money Received | App. Due | Balance | Refund |
| Rs. | Rs. | Rs. | Rs. | |||
| 1 | 8,000 | 8,000 | 64,000 | 64,000 | – | – |
| 2 | 12,000 | 9,000 | 96,000 | 72,000 | 24,000 | 24,000 |
| 3 | 18,000 | 11,000 | 1,44,000 | 88,000 | 56,000 | 56,000 |
| 4 | 45,000 | 15,000 | 3,60,000 | 1,20,000 | 2,40,000 | 2,40,000 |
| Total | 83,000 | 43,000 | 6,64,000 | 3,44,000 | 3,20,000 | 3,20,000 |
WN-2 – When application money received in excess is retained for allotment.
| Categories | Shares Applied | Shares Allotted | App. Money Received | App. Due | Balance | Allotment Money Adjusted | Refund |
| Rs. | Rs. | Rs. | Rs. | Rs. | |||
| 1 | 8,000 | 8,000 | 64,000 | 64,000 | – | – | |
| 2 | 12,000 | 9,000 | 96,000 | 72,000 | 24,000 | 24,000 | – |
| 3 | 18,000 | 11,000 | 1,44,000 | 88,000 | 56,000 | 56,000 | – |
| 4 | 45,000 | 15,000 | 3,60,000 | 1,20,000 | 2,40,000 | 1,05,000 | 1,35,000 |
| Total | 83,000 | 43,000 | 6,64,000 | 3,44,000 | 3,20,000 | 1,85,000 | 1,35,000 |
WN-3 – When application money received in excess is retained for allotment and call.
| Categories | Shares Applied | Shares Allotted | App. Money Received | App. Due | Balance | Allotment Money Adjusted | Call Adjustments | Refund |
| Rs. | Rs. | Rs. | Rs. | Rs. | Rs. | |||
| 1 | 8,000 | 8,000 | 64,000 | 64,000 | – | – | ||
| 2 | 12,000 | 9,000 | 96,000 | 72,000 | 24,000 | 24,000 | – | |
| 3 | 18,000 | 11,000 | 1,44,000 | 88,000 | 56,000 | 56,000 | – | |
| 4 | 45,000 | 15,000 | 3,60,000 | 1,20,000 | 2,40,000 | 1,05,000 | 75,000 | 60,000 |
| Total | 83,000 | 43,000 | 6,64,000 | 3,44,000 | 3,20,000 | 1,85,000 | 75,000 | 60,000 |
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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