Capital
This query is : Resolved
Sankar Chakraborty
(Querist)
30 March 2012
Dear Experts,
our Managing director (pvt ltd co) reinvest Rs. 6.00lac as share capital in his company
what to show ?
bank a/c... Dr
to share appliation
or
bank a/c .. dr
to capital a/c
please guide
our Managing director (pvt ltd co) reinvest Rs. 6.00lac as share capital in his company
what to show ?
bank a/c... Dr
to share appliation
or
bank a/c .. dr
to capital a/c
please guide
30 March 2012
A company cannot have just capital A/c. It can only have Share Capital.
Has the director PURCHASED shares from the company.
If yes, then only it can be shown in Share Capital.
Otherwise, it has to be shown as Unsecured Loan from Director.
Has the director PURCHASED shares from the company.
If yes, then only it can be shown in Share Capital.
Otherwise, it has to be shown as Unsecured Loan from Director.
Sankar Chakraborty
(Querist)
30 March 2012
when 'share application' is to be used
is it for other than director ?
is it for other than director ?
31 March 2012
No share application is used when ANY person subscribes to the shares of the company.
The person can be a director or some other person.
The person can be a director or some other person.
Sankar Chakraborty
(Querist)
31 March 2012
thanks sir but in this case what entry to be in books ?
i know Form 2 to be submitted with ROC but my problem is about journal entry in books please guide
i know Form 2 to be submitted with ROC but my problem is about journal entry in books please guide
31 March 2012
If the director has purchased the shares, then the entry shall be:
Bank A/c Dr
To Share Capital
If he has not purchased the shares and has just given the amount to the company, then the entry shall be:
Bank A/c Dr.
To Loan from Director
Bank A/c Dr
To Share Capital
If he has not purchased the shares and has just given the amount to the company, then the entry shall be:
Bank A/c Dr.
To Loan from Director
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