sonia (article) (62 Points)
06 July 2011pls anyone tell me the accounting of this
a company having a authorised capital of100000.
and in a bank statement a credit transaction of1000000 is given my sir said that pass 100000 issued capital entry and bakki ki share capital show kar do can any one tell me the treatment of this.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 06 July 2011
how can be it possible if we credit 100000 to issued capital and balance 900000to share capital ac.????????because both the ac, r same
sonia
(article)
(62 Points)
Replied 06 July 2011
yar authorised capital 100000 ki hai or issued b 1 lac ki hi karni hai or sir ne kaha hai ki baki share capital mai daal do??? how
sonia
(article)
(62 Points)
Replied 06 July 2011
nd bank statement mai 1000000 ka amount hai to kya karna hai iska...
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 06 July 2011
there should be no entry for authorised share capital. we always enter the entry for paid up share capital
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 06 July 2011
in my view the following entry should be passed
bank ac-------------dr. 1000000
to share capital 1000000
rectify me if i am wrong
sonia
(article)
(62 Points)
Replied 06 July 2011
paid up share capital ki to maine entry kar di hai par 1000000 wali or 100000 wali issued capital ka kya karna hai
sonia
(article)
(62 Points)
Replied 06 July 2011
it means mujhe share capital ka account bana padega but yaar vo 1000000 ki amount jo hai or 100000 ki uska kya karna hai
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 06 July 2011
authosed share capital is just an information in the balance sheet. we do not take its total in our balance sheet. hence we pass only entry for issued share capital as stated above
sonia
(article)
(62 Points)
Replied 06 July 2011
ok menas 1st case solve issued and paid up ka now tell me about 1000000 wala case
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 06 July 2011
we will pass only entry as follows
bank ac - - - -- - - - -- - - - - -dr.1000000
to share capital ac 1000000
(being issue of share capital)
sonia
(article)
(62 Points)
Replied 06 July 2011
OK TO ISSUED 100000 AND SHARE CAPITAL 1000000 KI HO SAKTI HAI NA
faisal pari
(Accountant)
(46 Points)
Replied 06 July 2011
Bank A/c Dr. 100000
To, Share Capital 100000
ashish gupta
( student)
(1922 Points)
Replied 06 July 2011
i think authorised share capital 10 lacs hogi and issued capital 1lac. issued capital ke liye journal entry pass kar do
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