Accounting for Share Capital
In the NCERT Accountancy textbook for Class 12, this topic explains how a company raises owned funds through shares. You learn the categories of share capital, the steps from application and allotment to calls in advance and arrears, and the differences between issue at par, at premium, and for consideration other than cash. The lesson covers undersubscription and oversubscription with pro rata allotment, interest on calls in advance and calls in arrears, forfeiture and reissue of shares, and the entries that carry each stage into the balance sheet under the framework of company law.
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