Question 42 Chapter 8 of Class 12 Part – 2 – 2024
42. (Forfeiture Entries) A company had allotted 2,000 shares to Maninder. The face value of shares is Rs. 100 and the premium is 20%. Application money is Rs. 30 including 50% premium and allotment is Rs. 50 (including balance of premium). The rest of face value is called on first and final call. Maninder had applied for 2,200 shares. His excess application money is retained for allotment. He did pay any amount did not pay any amount after application.
Pass forfeiture entry
The solution of Question 42 Chapter 8 of Class 12 Part – 2 – 2024: –
We are providing a solution of Question 42 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:
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The video consists solution of question numbers from 40 to 43 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 42 from the flowing video by using time stamps of the video.
2. Check out the Solution of Question 42 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| A) | Share capital A/c (2000X 100) | Dr. | 2,00,000 | ||
| Securities Premium Reserve A/c (2000X 10) | Dr. | 20,000 | |||
| To Share Allotment A/c | 94,000 | ||||
| To Share First & Final call A/c | 80,000 | ||||
| To Share Forfeited A/c | 46,000 | ||||
| (Being 2000 shares fortified) | |||||
Working notes : –
| (1) Excess application money to be adjusted on allotment | |
| Total Application money received (2,200 × 30) | 66,000 |
| Less: Adjusted towards application (2,000 × 30) | 60,000 |
| Excess Application money to be adjusted to allotment | 6,000 |
| (2) Amount not received on allotment: | |
| Total allotment money due from Maninder (2,000 × 50) | 1,00,000 |
| Less: Advance Application money adjusted | 6,000 |
| Amount not received on allotment | 94,000 |
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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