Interested to Buy Any Domain ? << Click Here >> for more details...
what type of acounts is share application account
- 8 Answers
- 39344 Views
- KPSC Karnataka Public Service Corporation, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / prakash
share application account is a personal account since the
application ammount comes from persons OR instutions
| Is This Answer Correct ? | 82 Yes | 8 No |
Share Application A/c is Personal A/c as the share is
capital for business received by the owner of business or
any other person. So the person investing in the business in
the form of share is giver. Rule of Personal A/c : "Debit
the receiver, credit the giver" is applicable.
| Is This Answer Correct ? | 49 Yes | 7 No |
Answer / prince
I think the we first apply the application into the bank so bank account is a artificial personal account and the share application shows the application made by the shareholders so ther are many share holders so it is representative personal account and bank receives the application so debit the reveiver and the share appliction represents shareholders who applied for the shares so credit the giver
| Is This Answer Correct ? | 20 Yes | 3 No |
Look Guys, First of all Bank A/C is a personal as banking company is an artificial person created by law and share application account is also a personal as it indicates the money received from natural persons i.e. Shareholders.Thus following entry is based on above discussion:-
Bank A/C. Dr.
To share application A/C
Note:- One of my less knowledgeable Friend posted That Share application account is represents Income which is absolutely Wrong.
Thanks
Mohit Giri(7678170406)
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / bhavesh
i think share application acount is a nominal account
as whenever we make entry for eg
Bank A/c.......dr
To share application A/c
we recived cheque so bank account is real account as cash comes in
and share application is a gain an income for the company and thus it is credited i.e share application is in credit, credit the incomes and gains
so we cant say that it is a personal account
if we follow the personal account rules
share application account is credited
so it will be credit the reciver
there is no person (artificial or natural)
to recive it so it is not a personal account...
as per me...
| Is This Answer Correct ? | 14 Yes | 38 No |
wHAT IS DIFFERANCE BETWEEN RETAIL INVOICE & CASH MEMO?
when dissoluction of firm why investment flchuationfund subtrect from book value
what is the meaning of Accrual Concept?
6 Answers emc2, IHG InterContinental Hotels Group, Rivera Manpower Services,
What is general entries for Deffered Tax?
what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??
5 Answers Hindustan Power Projects,
What is different between cash accounting & Mercantile Accounting ?
Can you differentiate public and private accounting?
what is debit and credit?
1 Answers Genpact, Infosys, Nainital Bank, Satyam,
Explain me the term material facts in accounting?
which subsidiary book is source of these:debit note,credit slip,
how to prepare for accontant examinations
What is asset revaluation reserve and how is it treated in the books of accounts
Audit 
