Accounting for Share Capital
Gujarat Board · Class 12 · Elements of Accounts
Step-by-step guide to study Accounting for Share Capital in Gujarat Board Class 12 Elements of Accounts. Topics to cover, practice strategy, and time allocation.
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Study Plan
Learn the Theory
Read the textbook chapter carefully. Note down definitions, formulas, and key concepts.
Practice Problems
Solve textbook exercises and additional practice questions. Focus on numerical problems and application-based questions.
Revise & Test
Revise key formulas and concepts without looking at notes. Take a practice quiz to test your understanding. Mark weak areas for re-revision.
Spaced Revision
Revisit Accounting for Share Capital after a week. Use flashcards for quick recall. Solve previous year questions from this chapter.
What to Focus On
- Statutory companies are created by legislature; registered companies are formed under Companies Act.
- Private company: max 200 members, restricts share transfer, prohibits public subscription.
- Public company: minimum 7 members, no maximum limit, can invite public to subscribe.
- Share = smallest unit of company's capital; has a distinctive number; movable and transferable.
- Two types of shares: Preference Shares and Equity Shares.
- Preference shareholders get priority in dividend and capital repayment.
- SEBI replaced Capital Issues (Control) Act, 1947 from 1991 onwards.
- Application money: minimum 5% of face value (Companies Act) or 25% of issue price (SEBI).
- Over subscription: applications > issued shares; excess money is refunded.
Common Mistakes to Avoid
Calls-in-Arrears means the same as Calls-in-Advance — both are just unpaid amounts related to share calls.
Securities Premium is a Revenue Profit and can be used to pay dividends to shareholders.
When shares are forfeited, the entire amount that was called up on those shares is debited to Share Capital Account.
Memory Tips
Types of Companies — Private vs Public
Preference Shares vs Equity Shares — priority of dividend and repayment
Types of Share Capital — Authorised, Issued, Subscribed, Called-up, Paid-up
Authorised Capital is the maximum capital
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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Important Questions
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Revision Notes
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Formula Sheet
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Chapter Summary
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Concept Maps
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Flashcards
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Syllabus
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NCERT Solutions
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Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for Gujarat Board Class 12 Elements of Accounts.