Solved PYQs 1-2 of 21: Accounting for Companies | CBSE (Central Board of Secondary Education) Class-12 Accountancy | Chapter-wise
216 PYQs with Explanations (2026-2027 Exam)
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Question 1500 words | 6 marks
Shubham Ltd. invited applications for the allotment of 80,000 equity shares of ₹10 each at a discount of 10% . The amount was payable as follows:
On application ₹2 per share
On allotment ₹3 per share
On first and final call- Balance
Applications for 1,10,000 shares were received. Applications for 10,000 shares were rejected. Shares were allotted on pro-rata basis to the remaining applicants. Excess application money received on application was adjusted towards sums due on allotment. All calls were made and were duly received. Manoj who had applied for 2,000 shares failed to pay the allotment and first and final call. His shares were forfeited. The forfeited shares were re-issued for ₹24,000 fully paid up. Pass necessary journal entries in the books of the company for the above transaction.
Answer
| No. | Particulars | L. F. | DR. RS | CR. RS. |
| 1 | Bank A/c … Dr. | – | 2,20,000 | |
| To Share Application A/c (Being application money received on 1,10,000 share @ ₹2 per share) | 2,20,000 | |||
| 2 | Share Application A/c … Dr. | – | 2,20,000 | |
| To Share Capital A/c | 1,60,000 | |||
| To Share Allotment A/c | 40,000 |
… (172 more words) …
Accounting for CompaniesAccounting for Share CapitalAccounting for Share Capital
Question 240 words | 2 marks
Dividend paid by a manufacturing company is classified under which kind of activity while preparing cash flow statement?
Accounting for CompaniesAccounting for Share CapitalShare and Share Capital