Ch 6 · Company Accounts — Issue of Shares

5 concept points · 4 formulas · 4 exam-critical points.

📘 Core concepts

• 1Share capital: Authorised, Issued, Subscribed, Called-up, Paid-up.
• 2Issue at par, premium (Sec 52), or discount (only sweat equity under Sec 53).
• 3Stages: Application, Allotment, Calls — money received in instalments.
• 4Calls in Arrears: unpaid called-up amount; Calls in Advance: paid before call.
• 5Forfeiture: cancellation for non-payment; re-issue at any price (discount ≤ forfeited amount).