Question 37 Chapter 8 of Class 12 Part – 2 – 2024
26. (Forfeiture of Shares) P Ltd issued 2,000 shares of 100 each payable as follows:
On application Rs. 30
On allotment Rs. 40
On first call Rs. 20
On final call Rs. 10.
Applications for 1,800 shares were received. Manjit did not pay two calls on his 100 shares and Jaswant did not pay final call on his 50 shares.
Shares Manjit and Jaswant were forfeited. Pass entries in Journal
The solution of Question 37 Chapter 8 of Class 12 Part – 2 – 2024: –
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The video consists solution of question numbers from 36 to 39 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 37 from the flowing video by using time stamps of the video.
2. Check out the Solution of Question 37 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| A) | Bank A/c (1,800 X 30) | Dr. | 54,000 | ||
| To Share Application A/c | 54,000 | ||||
| (Being application money received on 1,800 shares @ Rs. 30 per share) | |||||
| B) | Share Application A/c | Dr. | 54,000 | ||
| To Share capital A/c | 54,000 | ||||
| (Being application money transferred to Share cap. A/c) | |||||
| C) | Share Allotment A/c (1,800 X 40) | Dr. | 72,000 | ||
| To Share capital A/c | 72,000 | ||||
| (Being allotment money due on 1,800 share @ 40 per shares) | |||||
| D) | Bank A/c (1,800 X 40) | Dr. | 72,000 | ||
| To Share allotment A/c | 72,000 | ||||
| (Being allotment money received in full) | |||||
| E) | Share first Call A/c (1,800 X 20) | Dr. | 36,000 | ||
| To Share capital A/c | 36,000 | ||||
| (Being first call money due on 1,800 share @ 20 per shares) | |||||
| F) | Bank A/c (1,700 X 20) | Dr. | 34,000 | ||
| Call in arrears A/c (100 X 20) | Dr. | 2,000 | |||
| To Share first Call A/c | 36,000 | ||||
| (Being first call money received on 1,700 share @ 20 per shares & balance in calls in arrears ) | |||||
| G) | Share final Call A/c (1,800 X 10) | Dr. | 18,000 | ||
| To Share capital A/c | 18,000 | ||||
| (Being final call money due on 1,800 share @ 10 per shares) | |||||
| H) | Bank A/c (1,650 X 10 ) | Dr. | 16,500 | ||
| Call in arrears A/c (150 X 10) | Dr. | 1,500 | |||
| To Share final Call A/c | 18,000 | ||||
| (Being second & final call money received on 1,650 share @ 10 per shares & balance in calls in arrears ) | |||||
| I) | Share capital A/c | Dr. | 15,000 | ||
| To Share Forfeited A/c | 11,500 | ||||
| To Call in arrears A/c | 3,500 | ||||
| (Being forfeitures of 150 shares ) | |||||
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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