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Sub:- Company Accounts

Presented By:-

Vilas Deshmukh
Abhishek Agrawal
 Definition

 Sec

-

3(1)(i) and (ii) :- “A Company formed and

registered under this Act or an existing company.

An „Existing Company‟ means a company formed
and

registered

Companies Act.”

under

any

of

the

former
Incorporated
Association

Artificial
Legal Person

Transferability
of Shares

COMPANY
Not a
Citizen

Limited
Liability

Common
Seal

Perpetual
Existence
A

Company, thus, may be defined as an

incorporated association, which is an artificial
legal person, having a separate legal entity, with

a perpetual succession, a common seal, a
common

capital

comprised

of

shares and carrying limited liability.

transferable
SHARES


A share is the individual portion of the Company's capital
owned by a share holder in the company.



The Act defines a share as a ' share' in the share capital of
the company and it includes stock.



Each share has its own distinctive number.



Shares are classified as movable property, transferable in
the manner specified by the Articles.
Shares Classification :-

Shares

Equity

Preference
Share Capital Structure of Company

Called up
capital

Authorized/
Registered
Capital

Issued
Capital
Unissued
Capital

Subscribed
Capital

Uncalled
Capital

Unsubscribed
Capital

Reserve
Capital

Paid-Up
Capital
UnpaidCapital
SHARE CAPITAL STRUCTURE OF

HINDUSTAN UNILEVER LIMITED
PROCEDURE OF ISSUE OF SHARES
1
2
3
4

• Issue of prospectus

• Application received
• Allotment of share

• calls
Other related Terms
1) CALLS IN ARREARS.
2) CALLS IN ADVANCE.
3) FORFEITURE OF SHARES.
4) REISSUE OF SHARES.

11
ISSUE OF SHARES


When Share Application Money is Received:Date
1



Particulars

L.F Dr.Amt.

By Bank A/c
Dr.
To Share Application A/c
(being application money received)

xxxxx
-

Cr.Amt.
xxxxx

When Share Application Money is Transferred:Date
1

Particulars
By Share Application A/c
To Share Capital A/c

L.F Dr.Amt.
Dr.

(being application money transferred)

xxxxx
-

Cr.Amt.
xxxxx


When Share Allotment money is Transferred:Date
1



Particulars
By Share Allotment A/c
To Share Capital A/c
(being allotment money due)

L.F Dr.Amt.
Dr.

xxxxx
-

Cr.Amt.
xxxxx

When Share Allotment Money is Received:Date
1

Particulars
By Bank A/c
Dr.
To Share Allotment A/c
(being allotment money received)

L.F Dr.Amt.
xxxxx
-

Cr.Amt.
xxxxx


When Share First call money is Transferred:Date
1



Particulars
By Share First call A/c
To Share Capital A/c
(being first call money due)

L.F Dr.Amt.
Dr.

xxxxx
-

Cr.Amt.
xxxxx

When Share First call Money is Received:Date
1

Particulars
By Bank A/c
Dr.
To Share First call A/c
(being first call money received)

L.F Dr.Amt.
xxxxx
-

Cr.Amt.
xxxxx


When Share Final call money is Transferred:Date
1



Particulars
By Share Final call A/c
To Share Capital A/c
(being final call money due)

L.F Dr.Amt.
Dr.

xxxxx
-

Cr.Amt.
xxxxx

When Share Final call Money is Received:Date
1

Particulars
By Bank A/c
Dr.
To Share Final call A/c
(being final call money received)

L.F Dr.Amt.
xxxxx
-

Cr.Amt.
xxxxx
QUESTION:X.Ltd issued 20,000 Equity Shares of Rs.10/- payable as
follows On Application Rs.2/ On Allotment Rs.3/ On First call Rs.2/ On Final call Rs.3/ The Company received application for 16,000 Equity
shares. All the shares were duly alloted and money due
was received.
 Pass Journal Entries.

IN THE BOOKS OF X. LTD
JOURNAL ENTRIES
Date

Particulars

L.F

Dr.Amt.

Cr.Amt.

1)

By Bank A/c
Dr.
To Share Application A/c
(16000 Shares X 2/- per share)
(being application money received)

32000
-

32000

2)

By Share Application A/c
Dr.
To Share Capital A/c
(being application money transferred)

32000
-

32000

3)

By Share Allotment A/c
To Share Capital A/c
(16000 Shares X 3/- per share)
(being allotment money due)

48000
-

48000

4)

By Bank A/c
To Share Allotment A/c
(being allotment money received)

48000
-

48000

Dr.

Dr.
CONT:Date

Particulars

5)

By Share First Call A/c
To Share Capital A/c
(16000 Shares X 2/- per share)
(being first call money due)

6)

By Bank A/c
To Share First Call A/c
(being first call money received)

7)

By Share Final Call A/c
To Share Capital A/c
(16000 Shares X 3/- per share)
(being final call money due)

8)

By Bank A/c
To Share Final Call A/c
(being final call money received)

L.F
Dr.

Dr.

Dr.

Dr.

Dr.Amt.

Cr.Amt.

32000
-

32000

32000
-

32000

48000
-

48000

48000
-

48000
??ANY QUERIES??
Company Accounts

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Company Accounts

  • 1. Sub:- Company Accounts Presented By:- Vilas Deshmukh Abhishek Agrawal
  • 2.  Definition  Sec - 3(1)(i) and (ii) :- “A Company formed and registered under this Act or an existing company. An „Existing Company‟ means a company formed and registered Companies Act.” under any of the former
  • 3. Incorporated Association Artificial Legal Person Transferability of Shares COMPANY Not a Citizen Limited Liability Common Seal Perpetual Existence
  • 4. A Company, thus, may be defined as an incorporated association, which is an artificial legal person, having a separate legal entity, with a perpetual succession, a common seal, a common capital comprised of shares and carrying limited liability. transferable
  • 5. SHARES  A share is the individual portion of the Company's capital owned by a share holder in the company.  The Act defines a share as a ' share' in the share capital of the company and it includes stock.  Each share has its own distinctive number.  Shares are classified as movable property, transferable in the manner specified by the Articles.
  • 7.
  • 8. Share Capital Structure of Company Called up capital Authorized/ Registered Capital Issued Capital Unissued Capital Subscribed Capital Uncalled Capital Unsubscribed Capital Reserve Capital Paid-Up Capital UnpaidCapital
  • 9. SHARE CAPITAL STRUCTURE OF HINDUSTAN UNILEVER LIMITED
  • 10. PROCEDURE OF ISSUE OF SHARES 1 2 3 4 • Issue of prospectus • Application received • Allotment of share • calls
  • 11. Other related Terms 1) CALLS IN ARREARS. 2) CALLS IN ADVANCE. 3) FORFEITURE OF SHARES. 4) REISSUE OF SHARES. 11
  • 12. ISSUE OF SHARES  When Share Application Money is Received:Date 1  Particulars L.F Dr.Amt. By Bank A/c Dr. To Share Application A/c (being application money received) xxxxx - Cr.Amt. xxxxx When Share Application Money is Transferred:Date 1 Particulars By Share Application A/c To Share Capital A/c L.F Dr.Amt. Dr. (being application money transferred) xxxxx - Cr.Amt. xxxxx
  • 13.  When Share Allotment money is Transferred:Date 1  Particulars By Share Allotment A/c To Share Capital A/c (being allotment money due) L.F Dr.Amt. Dr. xxxxx - Cr.Amt. xxxxx When Share Allotment Money is Received:Date 1 Particulars By Bank A/c Dr. To Share Allotment A/c (being allotment money received) L.F Dr.Amt. xxxxx - Cr.Amt. xxxxx
  • 14.  When Share First call money is Transferred:Date 1  Particulars By Share First call A/c To Share Capital A/c (being first call money due) L.F Dr.Amt. Dr. xxxxx - Cr.Amt. xxxxx When Share First call Money is Received:Date 1 Particulars By Bank A/c Dr. To Share First call A/c (being first call money received) L.F Dr.Amt. xxxxx - Cr.Amt. xxxxx
  • 15.  When Share Final call money is Transferred:Date 1  Particulars By Share Final call A/c To Share Capital A/c (being final call money due) L.F Dr.Amt. Dr. xxxxx - Cr.Amt. xxxxx When Share Final call Money is Received:Date 1 Particulars By Bank A/c Dr. To Share Final call A/c (being final call money received) L.F Dr.Amt. xxxxx - Cr.Amt. xxxxx
  • 16. QUESTION:X.Ltd issued 20,000 Equity Shares of Rs.10/- payable as follows On Application Rs.2/ On Allotment Rs.3/ On First call Rs.2/ On Final call Rs.3/ The Company received application for 16,000 Equity shares. All the shares were duly alloted and money due was received.  Pass Journal Entries. 
  • 17. IN THE BOOKS OF X. LTD JOURNAL ENTRIES Date Particulars L.F Dr.Amt. Cr.Amt. 1) By Bank A/c Dr. To Share Application A/c (16000 Shares X 2/- per share) (being application money received) 32000 - 32000 2) By Share Application A/c Dr. To Share Capital A/c (being application money transferred) 32000 - 32000 3) By Share Allotment A/c To Share Capital A/c (16000 Shares X 3/- per share) (being allotment money due) 48000 - 48000 4) By Bank A/c To Share Allotment A/c (being allotment money received) 48000 - 48000 Dr. Dr.
  • 18. CONT:Date Particulars 5) By Share First Call A/c To Share Capital A/c (16000 Shares X 2/- per share) (being first call money due) 6) By Bank A/c To Share First Call A/c (being first call money received) 7) By Share Final Call A/c To Share Capital A/c (16000 Shares X 3/- per share) (being final call money due) 8) By Bank A/c To Share Final Call A/c (being final call money received) L.F Dr. Dr. Dr. Dr. Dr.Amt. Cr.Amt. 32000 - 32000 32000 - 32000 48000 - 48000 48000 - 48000