MEANING OF COMPANY
Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability. It is a juristic person having a separate legal entity distinct from the members who constitute it, capable of rights and duties of its own and endowed with the potential of perpetual succession. The Companies Act, 1956, states that 'company' includes company formed and registered under the Act or an existing company i.e. a company formed or registered under any of the previous company laws.
MEANING OF COMPANY
Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability. It is a juristic person having a separate legal entity distinct from the members who constitute it, capable of rights and duties of its own and endowed with the potential of perpetual succession. The Companies Act, 1956, states that 'company' includes company formed and registered under the Act or an existing company i.e. a company formed or registered under any of the previous company laws.
1. Absorption is a form of merger where there is a combination of two or more companies into an 'existing company'.
2. Features - One or more companies are liquidated, Generally, larger company purchase the business of smaller company.
3. Objectives - To have control over the market, To eliminate unnecessary competition, To get benefits of large scale operations.
4. Advantages - Expansion, Faster growth, Increased efficiency.
5. Reconstruction - Internal reconstruction is a method in which the reconstruction is undertaken without winding up the company and forming a new one.
External reconstruction takes place when an existing company goes into liquidation for the express purpose of selling its assets and liabilities.
6. Purchase Consideration - It is price payable by transferee company to transferor company by taking over the business of transferor company.
7. Amalgamation - When two or more different companies join to become one, the process is called Amalgamation.
1. Absorption is a form of merger where there is a combination of two or more companies into an 'existing company'.
2. Features - One or more companies are liquidated, Generally, larger company purchase the business of smaller company.
3. Objectives - To have control over the market, To eliminate unnecessary competition, To get benefits of large scale operations.
4. Advantages - Expansion, Faster growth, Increased efficiency.
5. Reconstruction - Internal reconstruction is a method in which the reconstruction is undertaken without winding up the company and forming a new one.
External reconstruction takes place when an existing company goes into liquidation for the express purpose of selling its assets and liabilities.
6. Purchase Consideration - It is price payable by transferee company to transferor company by taking over the business of transferor company.
7. Amalgamation - When two or more different companies join to become one, the process is called Amalgamation.
CLSP - Unit 4 - Share Capital & MembershipAjay Nazarene
It is a presentation on basic introduction to the subject of CLSP - Share Capital & Membership.
This is published only for education and information purpose.
Meetings PowerPoint Presentation Content slides include topics such as: why meetings are unproductive, 7 group roles and behaviors, effective meeting notes, 6 guidelines for effective meetings, information sharing/gathering, recognizing resistance to accepting change, phases of change transition, problem solving meetings, decision making, before the meeting, agenda and goals, during the meeting, running effective meetings, after the meeting, common scheduling problems, scheduling hints, taking minutes, how to's and much more.
Presentation/ ppt on issue of shares, Advance accounting, meaning of Company, Leena Gauraha
Presentation/ ppt on issue of shares, Advance accounting, meaning of Company, Types of Companies, Types of Shares, Terms of Issue of shares, Issue of Share, Receipt of share money in one installment, Issue of share money in two installments, Calls on shares, Full, Under and Over subscription of shares.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
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
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.
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
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