Class XII Boards🔥Q6 Shares | Pro Rata | Allotted Shares | Calls in Arrears | Forfeiture | Reissue

In this video, we solve Question 6, a critical problem in our Issue of Share Capital series. This video focuses on a classic board exam scenario: Oversubscription with Pro-Rata Allotment, specifically where a shareholder's allotted shares are known, but they fail to pay their allotment and call money.
The challenge here lies in calculating the "Applied Shares" from the "Allotted Shares" to determine the excess application money available for adjustment.
Key Learning Objectives:
• Reverse Calculation: How to find the number of shares applied for when only the allotted shares are given in a pro-rata category.
• Accurate Arrears: Calculating the net amount due on allotment after adjusting the initial excess application money.
• Forfeiture Dynamics: Correctly debiting the Share Capital account and handling the "Share Forfeiture" credit.
• Reissue & Capital Reserve: Finalizing the transaction by reissuing the shares and transferring the profit to the Capital Reserve.
This step-by-step tutorial is designed to help CBSE, ISC, and State Board students master the math behind pro-rata forfeiture, ensuring they don't lose marks on complex working notes.
Time Stamps
0:00 - Introduction & Key Differences from Q5
1:20 - Working Note 1: Calculating Shares Applied by the Defaulter
3:50 - Working Note 2: Finding Net Arrears on Allotment
6:10 - Journal Entries for Allotment and Calls
8:45 - Forfeiture Journal Entry Breakdown
11:15 - Reissue and Transfer to Capital Reserve
13:00 - Conclusion & Presentation Tips

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