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Mohit had applied… (Class 12 Accountancy SQP 2024-25, Q6a)

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AccountancyCBSE Class 12 · Sample paper, session 2024-25 · 1 mark · MCQ

CBSE Class 12 Accountancy sample paper 2024-25: question 6(a)

From the official CBSE sample question paper for 2024-25, section A, question 6(a), for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q6(a) · 1 mark · MCQAccounting for Share Capital

Mohit had applied for 900 shares, and was allotted in the ratio 3 : 2. He had paid application money of ₹ 3 per share and couldn’t pay allotment money of ₹ 5 per share. First and Final call of ₹ 2 per share was not yet made by the company. His shares were forfeited. The following entry will be passed

Share Capital A/c Dr. X
To Share Forfeited A/c Y
To Share Allotment A/c Z

Here X, Y and Z are:

  1. (A)₹ 6,000; ₹ 2,700; ₹ 3,300
  2. (B)₹ 4,800; ₹ 2,700; ₹ 2,100
  3. (C)₹ 4,800; ₹ 1,800; ₹ 3,000
  4. (D)₹ 6,000; ₹ 1,800; ₹ 4,200

Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2024-25.

Hints

Open one hint at a time and try again before the next.

Hint 1

How many shares did Mohit receive at 3 : 2?

Hint 2

Excess application money reduces the allotment due.

Hint 3

The final call has not been made, so debit only ₹ 8 per share.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Mohit got 600 shares (900 × 2/3). He paid 900 × ₹ 3 = ₹ 2,700; ₹ 1,800 was due on application, so ₹ 900 excess went to allotment.

  2. Allotment due 600 × ₹ 5 = ₹ 3,000, unpaid ₹ 2,100. Share Capital Dr. 600 × ₹ 8 = ₹ 4,800 (only ₹ 8 called); Forfeited ₹ 2,700; Allotment ₹ 2,100. Option (B).

    1 mark

Answer: (B) ₹ 4,800; ₹ 2,700; ₹ 2,100

Where the marks are

  • Called-up capital ₹ 4,800, amount paid ₹ 2,700, unpaid allotment ₹ 2,100 (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Share Capital, one at a time, marked against the answer key and marking points.Back to the full paperSample paper 2024-25: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.