Question 47 Chapter 8 of Class 12 Part – 2 – 2024
47. (Issue at Premium/Forfeiture/Reissue) Phillips Company forfeited 3,000 shares of Rs. 100 each issued at 10% premium. The holder of these shares has paid application and allotment money Rs. 65 (including 5 premium). First call and final call were not received. The company reissued 2,000 shares at Rs. 70 per share fully paid up.
Required: Entries in Journal
The solution of Question 47 Chapter 8 of Class 12 Part – 2 – 2024: –
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The video consists solution of question numbers from 47 to 48 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 47 from the flowing video by using time stamps of the video.
2. Check out the solution of Question 47 Chapter 8 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| A) | Share capital A/c (3,000 X 100) | Dr. | 3,00,000 | ||
| To Share First and final call A/c (3,000X 45) | 1,35,000 | ||||
| To Share Forfeited A/c (3,000X 60) | 1,80,000 | ||||
| (Being 3,000 shares forfeited due to First and final call Rs.40 of were not received ) | |||||
| Bank A/c (2,000X 70) | Dr. | 1,40,000 | |||
| Share Fortified A/c (2,000X 30) | Dr. | 60,000 | |||
| To Share Capital A/c | 2,00,000 | ||||
| (Being 2,000 shares reissued @ Rs. 70) | |||||
| Share Fortified A/c | Dr. | 60,000 | |||
| To Capital Reserve A/c | 60,000 | ||||
| (Being amount transferred to cap. reserve 1,80,000/3,000 X 2,000= 1,20,000-60,000 = Rs. 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