Accounts class 12 ts grewal solutions. TS Grewal Solutions for Class 12 Accountancy Chapter 9 2019-12-28

TS Grewal Accountancy Class 12 Solutions 2019

Applications for 10,000 shares were rejected. Letters of regret were issued to applicants for 5,000 shares and their application money was refunded. It was decided to utilise excess application money towards the amount due on allotment. All the shares were applied for and allotted. The company offered to public for subscription 10,000 shares payable Rs. On that date, the partners decide to dissolve the firm. Record the Journal entries for forfeiture and reissue of shares in the following cases: i.

Chapter 8 Company Accounts

I 2019 questions and their solutions. The firm had a debit balance of Rs. Cash and Cash Equivalents Bank 47,50,000 Authorised Capital: Rs. P, Q and R are three partners sharing profits and losses in the ratio of 3:3:2 respectively. Pass Journal entries to record the above issue of shares. A, B and C were partners sharing profits in the ratio of 5:3:2. The amount was payable as: on application and allotment Rs.

TS Grewal Solutions

They agreed to share profits and losses equally. Reserve and Surplus 2 2,00,000 ---- 2. Naresh joined the company on 1st July. Machinery and Stock-in-Trade were taken over by Krishna for Rs. Give Journal entries for the above Solution: Question 67.

TS Grewal Accountancy Class 12 Solutions 2019

Later on, forfeited shares were reissued Rs. The fixed assets realised Rs. Share Capital Authorised Share Capital 30,000 shares of Rs. Solutions to these sum up to be the certain questions asked in the board exams. Prepare necessary accounts showing the final settlement between partners.

Double Entry Book Keeping

The expenses of realisation were Rs. All the money was duly received with the exception of the amount due on the first call on 400 shares held by Mr. Applications for 1,000 Shares were rejected and application money was refunded the applicants. Mohan, one of the partners of the firm, was asked to look into the dissolution of the firm for which he was allowed a commission of Rs. Applicants of 1,000 shares falling in Category i and applicants of 1,200 shares falling in Category ii failed to pay allotment money. Madhur who was allotted 2,400 shares failed to pay the first and final call. It was decided to utilise excess application money towards the amount due on allotment.

Double Entry Book Keeping

The debentures are redeemable after 5 years. For the year ended 31st March, 2012, the firm suffered a loss of Rs. The amount was payable as: ——-On application — Rs. A took over Investments at an agreed valuation Rs. All the money due on shares was received. Non - Current Assets 2. Pass necessary Journal entries for the following transactions on the dissolution of the firm of P and Q after the various assets other than cash and outside liabilities have been transferred to Realisation Account.

Chapter 8 Company Accounts

They decided to dissolve the partnership. C who holds 1,250 shares paid nothing after first call. Give necessary Journal entries for the transactions. The solutions provided for the complex questions are clear and precise. Pass Journal entries in the following cases; M Ltd. Also, prepare Profit and Loss Appropriation Account.

Chapter 8 Company Accounts

Pass Journal entries to record the above transactions Solution: Question 92. The above 500 shares are duly forfeited and 400 of these including the 200 shares on which allotment money has not been paid are reissued at Rs. The amount was payable as follows: ——-On application — Rs. The amount payable on shares was: Rs. Non - Current Liabilities ---- 3. The company received application for 11,600 shares.