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1、CompanyAccountsChapter1:AccountingforShareCapitalSlide2(of29)Topic&StructureofthelessonIssueofSharesIssueandrepaymentsofloansRedemptionofSharesSlide3(of29)LearningOutcomesAttheendofthistopic,YOUshouldbeableto:MakethenecessaryentriesissuesandredemptionofsharesandDebentureUnderstandthe
2、differencesbetweenanissueofshares,rightissues,BonusissuesandanissueofloanstockBeabletopresentshareandloaninformationonacompanybalancesheet.Slide4(of29)KeyTermsyoumustbeabletouseIfyouhavemasteredthistopic,youshouldbeabletousethefollowingtermscorrectlyinyourassignmentsandexams:Shares,l
3、iabilitiesandcapital(owner’sEquity),applicationandallotmentandcall,fullpayment,interest,sharepremium,parvaluediscount,Redemption,CapitalRedemptionreserve(CRR)Slide5(of29)IssueofsharesRetainedProfits–ImportantsourceoffundIssuesharestoraiseadditionalmoney-Thecompanyhasnotbeendoingveryw
4、ellandinsufficientretainedprofit.-Thecompanyisgrowingrapidlyandtheadditionalmoneyisrequiredtofinancethecompany’sexpansionSharescanbeissued:-Toexistingshareholders–rightissue-Togeneralpublic–publiclimitedcompanyNewshares–issuedatparorpremiumandnotatdiscountRightissue–canbeissuedatdisc
5、ount.Slide6(of29)Paymentfornewshares-FullpaymentorinstalmentsInstalments-Application-madetopurchasethesharesAllotment-whensharesareallocatedCall-whenthecallismadeforfinalinstalmentsEntriestodealwithshareissuesSlide7(of29)Example1Fenbyplchasanauthorisedsharecapitalof50,000,000ordinary
6、shares$0.50shares.31DecemberYear12thecompanyhad24,000,000ordinary$0.50sharesinissue.Onthesamedatethebalanceonthesharepremiumaccountwas$1,600,000andtherewasaprofitandlosscreditbalanceof$6,735,000Jan1Year13thecompanyannounceanissueof6,000,000additionalordinary$0.50shares.Theissuepricew
7、as$1.65pershare,payableinfulluponapplication.Applicationweredueon20Jan.Year13,allotmentstobemadeon31Jan.Year13.Applicationwerereceivedfor6,000,000sharesbytheduedateandshareswereallocatedaccordingly.REQUIRED:Showthe(i)Journalentries(ii)LedgerAccounts(iii)Balancesheets(Extract31JanYear
8、13)Slide8(of
