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Revision Notes

Accounting for Share Capital

Karnataka Board · Class 12 · Accountancy

Quick revision notes for Accounting for Share Capital — Karnataka Board Class 12 Accountancy. Key concepts, formulas, and definitions for last-minute revision.

29 questions25 flashcards5 concepts

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An infographic illustrating the main features of a company: Separate Legal Entity, Limited Liability, Perpetual Succession, Common Seal, Transferability of Shares, and May Sue or be Sued. Each feature
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Key Topics to Revise

1

1. Nature and Features of Joint Stock Companies

  • A company is an artificial person created by law with separate legal entity from its members
  • Key features: Body Corporate, Separate Legal Entity, Limited Liability, Perpetual Succession, Common Seal, Transferability of Shares
  • Companies can sue and be sued in their own name
2

2. Types of Companies and Share Capital Classification

  • Based on liability: Companies Limited by Shares, Limited by Guarantee, Unlimited Companies
  • Based on membership: Public Company, Private Company, One Person Company (OPC)
  • Share Capital Categories: Authorised, Issued, Subscribed, Called-up, Paid-up, Uncalled, Reserve Capital
3

3. Types of Shares

  • Two main types: Preference Shares and Equity Shares
  • Preference Shares: Fixed dividend, preferential right in dividend and capital repayment
  • Types of Preference Shares: Cumulative/Non-cumulative, Participating/Non-participating, Redeemable/Irredeemable
4

4. Issue of Shares - Basic Process

  • Three main stages: Application, Allotment, Calls
  • Application money: Minimum 5% of face value, received with application
  • Allotment: Creates contract between company and shareholders

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Key Concepts

A company is an artificial personBased on liabilityAuthorised Capital (maximum capital as perPreference SharesThree main stages

Frequently Asked Questions

What are the important topics in Accounting for Share Capital for Karnataka Board Class 12 Accountancy?
Accounting for Share Capital covers several key topics that are frequently asked in Karnataka Board Class 12 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Accounting for Share Capital — Karnataka Board Class 12 Accountancy?
Start by understanding all key concepts. Practise previous year questions from this chapter. Revise formulas and definitions regularly. Use flashcards for quick revision before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All 10 chapters — Karnataka Board Class 12 Accountancy Revision Notes

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