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Question no 36 Chapter 1- Class 12 Part 2 Unimax

Question no 36 Chapter 1- Class 12 Part 2 Unimax

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Question no 36 Chapter 1- Class 12 Part 2 Unimax

800 shares of ₹ 10 each issued at par were forfeited for the non-payment of final call of ₹ 2 per share. These shares were reissued at ₹ 8 per share fully paid up.

The solution of Question no 36 Chapter 1- Class 12 Part 2 Unimax: –

Journal Entries
In the books of M/s Naveen Ltd.

Date  Particulars
L.F.DebitCredit
 Shares capital A/cDr. 8000 
 To Shares forfeited A/c   6400
 To shares final call A/c   1600
 (Being 800 shares forfeited due to non-payment final call money)    
 Bank A/cDr. 6400 
 Shares forfeited A/cDr. 1600 
 To Share capital A/c  8000
 (Being 800 forfeited shares reissued at ₹ 8 per shares fully paid up)    
 Shares forfeited A/cDr. 4800 
 To Capital reserve A/c  4800
 (Being profit on 800 forfeited shares transferred to capital reserve A/c)   

Working Note:

1. Calculate of amount transferred to capital reserve A/c

Amount forfeited on 800 shares= ₹ 6400
Amount forfeited on 800 shares=₹ 6400/800   x  800=6400
Less: Discount allowed on reissued shares= ₹ 1600
Balance creditors to capital reserve A/c= 4800

End of Solution


Check Out the Solution of all questions for this chapter:

The solution to all questions of Chapter No. 1 – Company Accounts (Share Capital) Class 12 Unimax is shown as follows, click on the image of the question to get the solution.

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1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.

2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax

UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.

Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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