Students who are studying in Class 12 and candidates who are preparing for competitive exams can download the PDF for NCERT Class 12 Books Accountancy Part 2 Chapter 1- Accounting for Share Capital to learn from the reading material.
Taking these course books as a reference can be really helpful to prepare for any sought exam. You can keep the digital form of the book handy and learn from it without any time constraints.
At safalta, you can access FREE E-BOOKS. These books are not just free of cost, but they are also packed with ample knowledge and information related to your studies.
We also provide FREE MOCK PAPERS, which can help you test your own yourself.
Free Demo Classes
Register here for Free Demo Classes
Here, you can learn the NCERT Class 12 Books Accountancy Part 2 Chapter 1- Accounting for Share Capitall. Moreover, you can get the links for other chapters to download the links.
Accounting for Share Capital Goes Like This-
After studying this chapter, you will be able to-
- Explain the basic nature of a joint stock company as a form of business organisation and the various kinds of companies based on liability of their members
- Describe the types of shares issued by a company
- Explain the accounting treatment of shares issued at par, at premium and at discount including oversubsription
- Outline the accounting for forfeiture of shares and reissue of forfeited shares under varying situations
- Workout the amounts to be transferred to capital reserve when forfeited shares are reissued; and prepare share forfeited account
A company may be viewed as an association of person who contribute money or money’s worth to a common inventory and use it for a common purpose.
It is an artificial person having corporate legal entity distinct from its members (shareholders) and has a common seal used for its signature.
Thus, it has certain special features which distinguish it from the other forms of organisation.
1.1 Features of a Company
These are as follows-
Body Corporate: A company is formed according to the provisions of Law enforced from time to time. Generally, in India, the companies are formed and registered under Companies Law except in the case of Banking and Insurance companies for which a separate Law is provided for.
Separate Legal Entity: A company has a separate legal entity which is distinct and separate from its members. It can hold and deal with any type of property. It can enter into contracts and even open a bank account in its own name.
Limited Liability: The liability of the members of the company is limited to the extent of unpaid amount of the shares held by them. In the case of the companies limited by guarantee, the liability of its members is limited to the extent of the guarantee given by them in the event of the company being wound up.
Perpetual Succession: The company being an artificial person created by law continues to exist irrespective of the changes in its membership. A company can be terminated only through law. The death or insanity or insolvency of any member of the company in no way affects the existence of the company. Members may come and go but the company continues.
Common Seal: The company being an artificial person, cannot sign its name by itself. Therefore, every company is required to have its own seal which acts as official signatures of the company. Any document which does not carry the common seal of the company is not binding on the company.
Transferability of Shares: The shares of a public limited company are freely transferable. The permission of the company or the consent of any member of the company is not necessary for the transfer of shares. But the Articles of the company can prescribe the manner in which the transfer of shares will be made.
May Sue or be Sued: A company being a legal person can enter into contracts and can enforce the contractual rights against others. It can sue and be sued in its name if there is a breach of contract by the company.
Some Glimpses of the Chapter are-
NCERT Class 12 Books Accountancy Part 2 Chapter 1- Accounting for Share Capital- PDF Download
Chapter 1- Accounting for Share Capital
Source: safalta.comSafalta provides the latest NCERT course books for all the major subjects of Class 12. A team of proficient teachers drafts these matters in a precise and thorough manner. You can download the PDFs for all the subjects in a chapter-wise format.
These Books are very effective in preparing for annual exams. Here is the PDF for NCERT Class 12 Books Accountancy Part 2 Chapter 1- Accounting for Share Capital.
Where can you download 'Accounting for Share Capital' PDF?
Chapter 1- Accounting for Share Capital
Why is NCERT Class 12 Books Accountancy the best study material?
- Students gain profound knowledge about Accountancy through the NCERT Books Class 12 Accountancy
- The course books contain pictures that can help students in better understanding of the chapters
- These books can help students in self-study
Are CBSE Books for Class 12 Accountancy important from an examination perspective?
To get outstanding marks, we provide mock test papers that can help gear-up your preparations for exams. Additionally, you can also download e-books to get yourself prepared even in a better way.