CBSE Class 12 Accountancy Forfeiture and Reissue of Shares Assignment

Read and download free pdf of CBSE Class 12 Accountancy Forfeiture and Reissue of Shares Assignment. Get printable school Assignments for Class 12 Accountancy. Class 12 students should practise questions and answers given here for Part 2 Chapter 1 Accounting For Share Capital Accountancy in Class 12 which will help them to strengthen their understanding of all important topics. Students should also download free pdf of Printable Worksheets for Class 12 Accountancy prepared as per the latest books and syllabus issued by NCERT, CBSE, KVS and do problems daily to score better marks in tests and examinations

Assignment for Class 12 Accountancy Part 2 Chapter 1 Accounting For Share Capital

Class 12 Accountancy students should refer to the following printable assignment in Pdf for Part 2 Chapter 1 Accounting For Share Capital in Class 12. This test paper with questions and answers for Class 12 Accountancy will be very useful for exams and help you to score good marks

Part 2 Chapter 1 Accounting For Share Capital Class 12 Accountancy Assignment

Q. 1 Ak Ltd. forfeited 300 shares of ₹ 10 each, fully called up, held by Ram for non-payment of allotment money of ₹ 3 per share and final call money of ₹ 4 per share. Out of these shares 250 were re-issued to Shyam for a total payment of ₹ 2,000. Give Journal entries for forfeiture and re-issue.
Ans : Capital Reserve ₹ 250
 
Q. 2 A limited Company forfeited 100 equity shares of the face value of ₹ 10 each, ₹ 6 per share called up, for non payment of first call of ₹ 2 per share. The forfeited shares were subsequently re-issued as fully paid @ ₹ 7 each. Give necessary entries in company's Journal.
Ans : Capital Reserve ₹ 100
 
Q. 3 1,000 shares of ₹ 10 each issued at par were forfeited for the non payment of the final call of ₹ 2 per share. These shares were re-issued @ ₹ 8 per share fully paid up. Journalise the forfeiture and re-issue of shares.
Ans : Capital Reserve ₹ 6,000
 
Q. 4 Taxneco Limited had issued capital of 2,00,000 Equity shares of ₹ 20 each, on which ₹ 17.50 per share has been called-up. calls-in-arrears in respect of 200 shares held by P amounted to ₹ 1,000 on September 30, 2012. By a resolution of the Board of Director dated the October 10, 2012, these 200 shares were forfeited and reissued at ₹ 12.50 per share paid in consideration of ₹ 2,000 and immediate payment of ₹ 5 per share in cash to make them ₹ 17.50 per share paid-up. Record Journal entries in the books of Taxneco Limited to record the above.
Ans : Capital Reserve ₹ 2,000
 
Q. 5 PS Ltd. forfeited 500 Equity Shares of ₹ 100 each for the non-payment of first call of ₹ 30 per share. The final call of ₹ 10 per share was not yet made. The forfeited shares were reissued for ₹ 65,000 fully paidup.
Pass the necessary Journal entries.
Ans : Capital Reserve ₹ 30,000
 
Q. 6 SSS Ltd. forfeited 1,000 Equity shares of ₹ 100 each for the non-payment call ₹ 20 per share and second and final call of ₹ 25 per share. State :-
(i) Can these shares be reissued ?
(ii) If yes, state the minimum amount at which these shares can be reissued ?
(iii) If these shares were reissued at ₹ 50 per share fully paid-up, what will be the amount of Capital Reserve ?
Ans : (i) Yes, (ii) ₹ 45, (iii) ₹ 5,000
 
Q. 7 M Limited forfeited 2,000 equity shares of ₹ 10 each, issued at a premium of ₹ 5 per share, held by Ram for non-payment of the final call of ₹ 3 per share. Of these, 100 shares were re-issued to Vishu at a discount of ₹ 4 per share.
Ans : Capital Reserve ₹ 300
 
Q. 8 X Ltd. forfeited 1,000 shares of ₹ 10 each (₹ 8 called up) for the non-payment of the allotment money of ₹ 5 per share including ₹ 2 as premium. Of these 800 shares were re-issued to S at ₹ 7 per share as ₹ 8 called up. Journalise the above transactions in the books of X Ltd.
Ans :   Capital Reserve ₹ 3,200
 
Q. 9 A company forfeited 100 equity shares of ₹ 100 each issued at a premium of 50% (to be paid at the time of allotment) on which first call money of ₹ 30 per share was not received; final call of ₹ 20 is yet to be made. These shares were subsequently re-issued at ₹ 70 per share as ₹ 80 paid up. Give necessary Journal entries regarding forfeiture and re-issue of shares.
Ans : Capital Reserve ₹ 4,000
 
Q. 10 50 shares of ₹ 10 each issued at a premium of ₹ 5 each payable with allotment were forfeited for the non-payment of allotment money of ₹ 9 per share including premium. The first and final call on these shares at ₹ 3 per share were not made. The forfeited shares were re-issued @ ₹ 12 per share fully paid up.
Journalise.
Ans : Capital Reserve ₹ 150
 
Q. 11 The Directors of a company forfeited 200 shares of ₹ 10 each issued at a premium of ₹ 3 per share, for the non-payment of the first call money of ₹ 3 per share. The final call of ₹ 2 per share has not been made. Half of the forfeited shares were reissued for ₹ 1,000 fully paid. Record the journal entries for the forfeiture and reissued of shares.
Ans : Capital Reserve ₹ 500
 
Q. 12 X Ltd. forfeited 150 shares of ₹ 20 each issued at a premium of ₹ 5 per share for the non payment of the second and final call of ₹ 7 per share. 100 of these shares were reissued @ ₹ 21 per share fully paid.
Journalise the above transactions regarding the forfeiture and reissue.
Ans : Capital Reserve ₹ 1,300
 
Q. 13 M Ltd. forfeited 2,000 shares of ₹ 10 each (Fully called-up) for the non-payment of the allotment money of ₹ 6 per share including ₹ 2 as premium. Of these, 1,500 shares were reissued to A at ₹ 9 per share fully paid. Journalise the above transactions regarding the forfeiture and reissue in the books of M Ltd.
Ans : Capital Reserve ₹ 7,500
 
Q. 14 Mahan Limited forfeited the following Equity Shares of ₹ 10 each issued at a premium of ₹ 2 per share :-
(i) 700 shares issued to X for the non-payment of second and final call of ₹ 3 per share.
(ii) 500 shares issued to Z for the non-payment of first call of ₹ 2 per share and second and final call of ₹ 3 per share.
The forfeited shares were reissued to Y for ₹ 11 per share fully paid. Pass the necessary Journal entries to record the forfeiture and reissue of shares.
Ans : Capital Reserve ₹ 7,400
 
Q. 15 TAG Ltd. forfeited 400 shares of ₹ 10 each issued at a premium of ₹ 1 per share for the non-payment of allotment money of ₹ 4 per share (Including premium). The first and final call of ₹ 3 per share has not been made as yet. 50% of the forfeited shares were reissued at ₹ 8 per share fully paid-up. Pass the necessary entries for the forfeiture and reissue of shares.
Ans : Capital Reserve ₹ 400
Part 1 Chapter 01 Accounting for Not for Profit Organisation
CBSE Class 12 Accountancy Accounting for Not for Profit Organisation Assignment
Part 1 Chapter 02 Accounting for Partnership : Basic Concepts
CBSE Class 12 Accountancy Accounting For Partnership Firms
CBSE Class 12 Accountancy Accounting for partnership firms Fundamentals Assignment
Part 1 Chapter 03 Reconstitution of a Partnership Firm Admission of a Partner
CBSE Class 12 Accountancy Admission of a Partner Assignment
CBSE Class 12 Accountancy Reconstitution Of Partnership Assignment Part A
CBSE Class 12 Accountancy Reconstitution Of Partnership Assignment Part B
Part 1 Chapter 04 Reconstitution of a Partnership Firm Retirement/Death of a Partner
CBSE Class 12 Accountancy Retirement and Death of Partner Questions
Part 1 Chapter 05 Dissolution of Partnership Firm
CBSE Class 12 Accountancy Dissolution of Partnership Firm Assignment
Part 2 Chapter 01 Accounting for Share Capital
CBSE Class 12 Accountancy Accounting For Share Capital and Debenture Assignment
CBSE Class 12 Accountancy Company Accounts Share Capital Assignment
CBSE Class 12 Accountancy Forfeiture and Reissue of Shares Assignment
CBSE Class 12 Accountancy Issue of Shares Assignment
Part 2 Chapter 02 Issue and Redemption of Debentures
CBSE Class 12 Accountancy Accounting For Debentures Assignment
CBSE Class 12 Accountancy Issue And Redemption Of Debenture Assignment
Part 2 Chapter 03 Financial Statements of a Company
CBSE Class 12 Accountancy Financial Statements of a Company Assignment
Part 2 Chapter 04 Analysis of Financial Statements
CBSE Class 12 Accountancy Analysis of Financial Statements Assignment
CBSE Class 12 Accountancy Financial Statement Analysis Assignment
Part 2 Chapter 05 Accounting Ratios
CBSE Class 12 Accountancy Accounting Ratios Assignment
CBSE Class 12 Accountancy Ratio analysis Assignment
Part 2 Chapter 06 Cash Flow Statement
CBSE Class 12 Accountancy Cash Flow Statement Set A
CBSE Class 12 Accountancy Cash Flow Statement Set B
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CBSE Class 12 Accountancy Part 2 Chapter 1 Accounting For Share Capital Assignment

We hope you liked the above assignment for Part 2 Chapter 1 Accounting For Share Capital which has been designed as per the latest syllabus for Class 12 Accountancy released by CBSE. Students of Class 12 should download and practice the above Assignments for Class 12 Accountancy regularly. We have provided all types of questions like MCQs, short answer questions, objective questions and long answer questions in the Class 12 Accountancy practice sheet in Pdf. All questions have been designed for Accountancy by looking into the pattern of problems asked in previous year examinations. 

Assignment for Accountancy CBSE Class 12 Part 2 Chapter 1 Accounting For Share Capital

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Part 2 Chapter 1 Accounting For Share Capital Assignment Accountancy CBSE Class 12

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Part 2 Chapter 1 Accounting For Share Capital Assignment CBSE Class 12 Accountancy

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CBSE Accountancy Class 12 Part 2 Chapter 1 Accounting For Share Capital Assignment

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The Part 2 Chapter 1 Accounting For Share Capital Class 12 Accountancy Assignments have been designed based on latest CBSE syllabus for Class 12 Accountancy issued for the current academic year

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