Ch 6 · Company Accounts — Issue of Shares

📘 Core concepts

1. 1Share capital: Authorised, Issued, Subscribed, Called-up, Paid-up.
2. 2Issue at par, premium (Sec 52), or discount (only sweat equity under Sec 53).
3. 3Stages: Application, Allotment, Calls — money received in instalments.
4. 4Calls in Arrears: unpaid called-up amount; Calls in Advance: paid before call.
5. 5Forfeiture: cancellation for non-payment; re-issue at any price (discount ≤ forfeited amount).