Accounting for Share Capital Class 12: Notes, Journal Entries and Solved Questions

What Accounting for Share Capital is about

Weightage: This chapter is part of Part A: Accounting for Companies, which carries 24 of the 80 theory marks together with Issue and Redemption of Debentures.Source: CBSE Accountancy (055) syllabus 2026-27, Part A: Accounting for Companies

In real board papers: asked in 2 of the 2 board papers we hold (2026 to 2026), on average 17 marks per paper. See the questions

Key concepts

Company: features and kinds

NCERT section 1.1, 1.2

A company is an artificial person created by law, with a separate legal entity from its members, perpetual succession, a common seal (or authorised signatures), limited liability of members, transferable shares (in a public company) and management separate from ownership.

Kinds by liability: companies limited by shares, limited by guarantee, and unlimited companies. By control: holding and subsidiary companies. By ownership and access to capital: private company (restricts transfer of shares, cannot invite the public), public company, and one person company. Companies may also be listed or unlisted, and a government company is one where the government holds at least 51% of paid-up capital.

Worked example

Suppose a shareholder of a company limited by shares has fully paid for her shares and the company later fails with large debts. Is she liable to pay the creditors? [1 mark]

Try it first, then show the solutionSolution

1. Liability of members is limited to the unpaid amount on their shares.
2. Her shares are fully paid, so nothing is unpaid.

Answer: No. Her liability is limited to the unpaid amount on her shares, which is nil.

Categories of share capital and Schedule III disclosure

NCERT section 1.3, 1.3.1

• Authorised (registered or nominal) capital: the maximum capital the company may issue, stated in its memorandum.
• Issued capital: the part offered to the public (and others) for subscription.
• Subscribed capital: the part actually taken up. It is shown as "subscribed and fully paid" and "subscribed but not fully paid".
• Called-up capital: the part of the face value the company has asked for so far; uncalled capital is the rest.
• Paid-up capital: called-up capital actually received (called-up − calls in arrears).
• Reserve capital: uncalled capital that by special resolution can be called only on winding up.

In the balance sheet, "Share Capital" appears under Shareholders' Funds, with a note showing authorised, issued and subscribed capital, calls in arrears deducted, and the balance of Share Forfeiture Account added.

Worked example

Suppose a company is authorised to issue 2,00,000 equity shares of ₹10 each. It issues 1,00,000 shares, of which 90,000 are subscribed. ₹8 per share has been called, and calls of ₹1 per share on 2,000 shares are unpaid. Show the Share Capital note. [3 marks]

Try it first, then show the solutionSolution

1. Note: Share Capital

   Particulars	₹
   Authorised capital: 2,00,000 equity shares of ₹10 each	20,00,000
   Issued capital: 1,00,000 equity shares of ₹10 each	10,00,000
   Subscribed capital: subscribed but not fully paid: 90,000 equity shares of ₹10 each, ₹8 called up	7,20,000
   Less: Calls in arrears (2,000 shares @ ₹1)	2,000
   Total subscribed capital	7,18,000

Answer: Subscribed but not fully paid ₹7,20,000 less calls in arrears ₹2,000 = ₹7,18,000.

Equity and preference shares

NCERT section 1.4

Preference shares carry two preferential rights: to receive a fixed rate of dividend before equity shareholders, and to repayment of capital before equity shareholders on winding up. They may be cumulative or non-cumulative, participating or non-participating, convertible or non-convertible, and redeemable (they must be redeemed within 20 years under the Companies Act 2013).

Equity shares are all shares that are not preference shares. Equity shareholders get dividends only after preference dividend, at a rate that varies with profit; they get capital back last on winding up; but they control the company through voting rights. They bear the most risk and can earn the most.

Worked example

Suppose a company earns a profit of ₹3,00,000 that it decides to distribute. It has 10,000 8% preference shares of ₹100 each and 1,00,000 equity shares of ₹10 each. What dividend per equity share can it pay? [3 marks]

Try it first, then show the solutionSolution

1. Preference dividend first: 8% of ₹10,00,000 = ₹80,000.
2. Left for equity: 3,00,000 − 80,000 = ₹2,20,000.
3. Per equity share: 2,20,000 ÷ 1,00,000 = ₹2.20.

Answer: ₹2.20 per equity share (22%), after ₹80,000 to preference shareholders.

Issue of shares: application, allotment, calls; arrears and advance

NCERT section 1.5, 1.6, 1.6.1, 1.6.2

Shares are paid in instalments. For each instalment: when due, debit the instalment account (Application, Allotment, Call) and credit Share Capital (and Securities Premium for the premium part); when received, debit Bank and credit the instalment account. Application money is received first and transferred to capital on allotment. Allotment requires the minimum subscription, at least 90% of the issue; otherwise application money is refunded.

Calls in arrears: amount called but unpaid; can be left as a debit balance in the instalment account or transferred to a Calls in Arrears A/c; shown as a deduction from subscribed capital. Calls in advance: amount received before it is called; credited to Calls in Advance A/c, shown under other current liabilities until adjusted when the call is made. (Interest on these is not in the syllabus.)

Worked example

Suppose a company calls ₹3 per share on first call on 40,000 shares. One shareholder with 500 shares does not pay, and another with 1,000 shares also pays the final call of ₹2 in advance. Pass the entries for the first call. [3 marks]

Try it first, then show the solutionSolution

1. Particulars	Dr (₹)	Cr (₹)
   Equity Share First Call A/c ... Dr	1,20,000
   To Equity Share Capital A/c		1,20,000
   (First call due on 40,000 shares @ ₹3)
   Bank A/c ... Dr	1,20,500
   Calls in Arrears A/c ... Dr	1,500
   To Equity Share First Call A/c		1,20,000
   To Calls in Advance A/c		2,000
   (Call received except on 500 shares; final call received in advance on 1,000 shares)

Answer: Bank ₹1,20,500 = 1,20,000 − 1,500 + 2,000; calls in arrears ₹1,500; calls in advance ₹2,000.

Over-subscription and under-subscription

NCERT section 1.6.3, 1.6.4

Under-subscription: fewer shares applied for than offered. Shares are allotted to all applicants (if minimum subscription is met) and entries are based on shares actually allotted.

Over-subscription: more applications than shares offered. The directors can (a) reject some applications and refund their money, (b) allot pro rata (proportionately) and adjust the excess application money towards allotment (and calls, if allowed), refunding any balance, or (c) do both. With pro-rata allotment, find each applicant's excess money: (shares applied − shares allotted) × application money per share; subtract it from allotment due.

Worked example

Suppose 60,000 shares are applied for by applicants who are allotted 50,000 shares pro rata, with application money ₹3 per share. How much excess application money is adjusted towards allotment? [1 mark]

Try it first, then show the solutionSolution

1. Excess shares applied = 60,000 − 50,000 = 10,000.
2. Excess money = 10,000 × ₹3 = ₹30,000.

Answer: ₹30,000 is adjusted towards allotment.

Securities premium and shares for consideration other than cash

NCERT section 1.6.5, 1.6.7

Shares issued above face value carry a securities premium, usually collected with allotment and credited to Securities Premium A/c when it falls due. Under Section 52 of the Companies Act 2013 it can be used only to issue fully paid bonus shares, write off preliminary expenses, write off expenses, commission or discount on any issue of shares or debentures, pay premium on redemption of preference shares or debentures, and buy back shares. It is shown under Reserves and Surplus.

Shares to a vendor: when a company buys assets and pays by issuing shares: Sundry Assets A/c Dr, To Vendor A/c; then Vendor A/c Dr, To Share Capital A/c (and Securities Premium A/c). Number of shares = amount payable ÷ issue price.

Worked example

Suppose Neel Ltd buys machinery of ₹4,40,000 from Vardan Traders and pays by issuing equity shares of ₹100 each at a premium of 10%. Pass the entries. [3 marks]

Try it first, then show the solutionSolution

1. Issue price ₹110; number of shares = 4,40,000 ÷ 110 = 4,000.

2. Particulars	Dr (₹)	Cr (₹)
   Machinery A/c ... Dr	4,40,000
   To Vardan Traders		4,40,000
   (Machinery purchased)
   Vardan Traders ... Dr	4,40,000
   To Equity Share Capital A/c		4,00,000
   To Securities Premium A/c		40,000
   (4,000 shares of ₹100 issued at ₹110 to the vendor)

Answer: 4,000 shares: capital ₹4,00,000 and premium ₹40,000.

Forfeiture of shares

NCERT section 1.7

If a shareholder fails to pay an instalment, the directors may forfeit his shares as per the articles. The member loses his shares and the money already paid. Entry: debit Share Capital with the amount called up on those shares; debit Securities Premium only if the premium was due but not received; credit the unpaid instalments (or Calls in Arrears); credit Share Forfeiture A/c with the amount already received towards capital.

If the premium on those shares had already been received, it stays in Securities Premium and is not debited.

Worked example

Suppose a holder of 200 shares of ₹10 each issued at ₹12 (premium payable with allotment) paid application ₹3 and allotment ₹5 (including premium) but not the first and final call of ₹4. The shares are forfeited and reissued at ₹7 per share fully paid. Pass the entries. [4 marks]

Try it first, then show the solutionSolution

1. Called up ₹10 × 200 = ₹2,000; unpaid call ₹800; received towards capital ₹6 × 200 = ₹1,200. Premium was received, so it is not debited.

2. Particulars	Dr (₹)	Cr (₹)
   Equity Share Capital A/c ... Dr	2,000
   To Equity Share First and Final Call A/c		800
   To Share Forfeiture A/c		1,200
   (200 shares forfeited for non-payment of call)
   Bank A/c ... Dr	1,400
   Share Forfeiture A/c ... Dr	600
   To Equity Share Capital A/c		2,000
   (200 shares reissued @ ₹7 fully paid)
   Share Forfeiture A/c ... Dr	600
   To Capital Reserve A/c		600
   (Gain on reissue transferred)

Answer: Forfeiture ₹1,200; discount on reissue ₹600; capital reserve ₹600.

Reissue of forfeited shares and capital reserve

NCERT section 1.7.1

Forfeited shares can be reissued at par, at a premium or at a discount, but the discount cannot exceed the amount forfeited on those shares. Entry: Bank A/c Dr (amount received), Share Forfeiture A/c Dr (discount), To Share Capital A/c (amount credited as paid up). If reissued above face value, credit the excess to Securities Premium.

After reissue, the remaining forfeited amount on the shares reissued is a capital profit: Share Forfeiture A/c Dr, To Capital Reserve A/c. Forfeited amount on shares not yet reissued stays in Share Forfeiture A/c and is added to share capital in the note.

When only some forfeited shares are reissued, find the forfeited amount per share first.

Worked example

Suppose 600 shares on which ₹2,160 had been forfeited are held by a company, and 400 of them are reissued at ₹8 per share fully paid (face value ₹10). Calculate the capital reserve. [3 marks]

Try it first, then show the solutionSolution

1. Forfeited per share = 2,160 ÷ 600 = ₹3.60; on 400 shares = ₹1,440.
2. Discount allowed = 400 × ₹2 = ₹800.
3. Capital reserve = 1,440 − 800 = ₹640; ₹720 stays in Share Forfeiture A/c for the 200 shares not reissued.

Answer: Capital reserve ₹640.

Private placement, ESOP and sweat equity (concepts)

NCERT section 1.6 (boxes on private placement and ESOP)

• Private placement (Section 42, Companies Act 2013): an offer of securities to a select group of persons through a private placement offer letter, not to the public at large.
• Employee Stock Option Plan (ESOP): an option given to employees and employee directors to buy the company's shares at a future date at a price lower than the market or fair value. It is an option, so an employee may or may not use it.
• Sweat equity shares: shares issued to employees or directors at a discount or for consideration other than cash, for providing know-how, intellectual property or value additions. Sweat equity is the one case where shares may be issued at a discount.

Worked example

Suppose a software start-up offers its senior engineers the right to buy its shares after three years at ₹50 each, while the shares now trade at ₹80. What is this called, and must the engineers buy? [1 mark]

Try it first, then show the solutionSolution

1. Shares offered to employees at a price below market value at a future date: an ESOP.
2. It is an option, not an obligation.

Answer: An Employee Stock Option Plan; the engineers may choose whether to exercise it.

Accounting for Share Capital in real life

Each concept, met in an everyday situation. Read the situation, answer the question in your own words, then compare with the model answer. The one-line hook is what to remember.

Topics in this chapter

• Forfeiture of Shares
• Reissue of Forfeited Shares
• Pro-Rata Allotment of Shares

Accounting for Share Capital: key facts

Excess application money (pro rata)

(Shares applied − shares allotted) × application money per share

Amount due on allotment from a pro-rata allottee

Shares allotted × allotment money − excess application money

Forfeiture entry

Dr Share Capital (called up) + Dr Securities Premium (if not received) = Cr unpaid instalments + Cr Share Forfeiture (received towards capital)

Maximum discount on reissue

Amount forfeited on the shares reissued

Capital reserve on reissue

Forfeited amount on shares reissued − discount on reissue

Shares to a vendor

Number of shares = purchase consideration ÷ issue price

Paid-up capital

Called-up capital − calls in arrears

Minimum subscription

At least 90% of the issue size

How the board asks Accounting for Share Capital

The question patterns to expect, and the method that works for each.

Tricks to remember Accounting for Share Capital

Short memory aids. Say each one aloud once, then use it on a question the same day.

• Forfeiture recipe: C-P-U-R

  Debit Called-up capital (and unpaid Premium); credit Unpaid calls and Received money (to forfeiture).

  Use it when: Every forfeiture entry.

• Discount ≤ forfeited

  You can give away on reissue at most what you took away on forfeiture.

  Use it when: Reissue limits.

• A-I-S-C-P

  Authorised ≥ Issued ≥ Subscribed ≥ Called-up ≥ Paid-up.

  Use it when: Categories of share capital.

• Premium travels with allotment

  Unless told otherwise, premium is collected with allotment.

  Use it when: Splitting allotment money.

Accounting for Share Capital: board-level solved questions

Ordered from board level to HOTS. Cover the solution, write your own, then compare step by step.

Case-study practice (Section E style)

Read the situation, then answer every part. In the board paper this is a 4-mark question split into 1 + 1 + 2 marks.

Where the marks are

How a typical answer is split into step marks. Show every step: a right final answer alone rarely earns full marks.

Where students lose marks in Accounting for Share Capital

The slips examiners see most often, and what to write instead.

• ✗Mistake: Debiting Securities Premium on forfeiture when the premium had already been received

  Habit of always reversing premium.

  Wrong working

  Share Capital Dr 2,000; Securities Premium Dr 400 ...

  Right working

  Share Capital Dr 2,000 To Call 800, To Share Forfeiture 1,200

  ✓Do this: Debit premium only if it was due and remains unpaid.

  Usually costs: 1-2 marks.

• ✗Mistake: Transferring the whole Share Forfeiture balance to capital reserve after a partial reissue

  Not working per share.

  ✓Do this: Only the forfeited amount on reissued shares, less discount, goes to capital reserve.

  Usually costs: 1-2 marks.

• ✗Mistake: Ignoring a defaulter's excess application money

  Treating pro-rata allottees like full allottees.

  ✓Do this: Excess application money reduces allotment due and adds to the amount forfeited.

  Usually costs: 1-2 marks.

• ✗Mistake: Crediting share capital with the premium on allotment

  Not splitting the allotment.

  ✓Do this: Allotment due: credit Share Capital with the capital part and Securities Premium with the premium part.

  Usually costs: 1 mark.

• ✗Mistake: Recording interest on calls in arrears

  Following older textbooks.

  ✓Do this: Interest on calls in arrears and in advance is outside the 2026-27 syllabus; record calls without interest.

  Usually costs: Wasted time and possible errors.

NCERT exercise guide: Accounting for Share Capital

What each exercise in the NCERT chapter tests, how to approach it, and a question of the same kind solved step by step. Questions here are written in our own words.

Accounting for Share Capital: previous year questions

• Asked in 2 of the 2 board papers we hold (2026 to 2026), on average 17 marks per paper; 14 questions in all, counting OR alternatives. In 4 of 4 sample papers.

Counted from the real papers on our previous year papers page, not estimated. Average marks are over every board paper we hold, with an OR pair counted once. Chapter tags are ours.

Solved board questions from Accounting for Share Capital

Real questions from recent papers. Try each one first, then open our step-by-step solution with marks per step.

Every Accounting for Share Capital question, by year

Practice questions on Accounting for Share Capital

Write each answer on paper first. Open the hint only if you are stuck, and the answer only when you have finished.

1. Q1 · 1 mark · MCQBoard level

   The minimum subscription a company must receive before allotment is:
   (a) 50% of the issue
   (b) 75% of the issue
   (c) 90% of the issue
   (d) 100% of the issue

   Hint

   Otherwise refund.

   Answer

   (c) 90%

2. Q2 · 1 mark · MCQBoard level

   Calls in advance are shown in the balance sheet under:
   (a) Share Capital
   (b) Reserves and Surplus
   (c) Other Current Liabilities
   (d) Short-term Provisions

   Hint

   Money the company holds for a call not yet made.

   Answer

   (c) Other Current Liabilities

3. Q3 · 3 marks · Short answerBoard level

   Distinguish between equity shares and preference shares on three bases.

   Hint

   Dividend, capital repayment, voting.

   Answer

   Dividend: fixed rate, paid first vs variable, paid after preference. Repayment on winding up: before equity vs last. Voting: limited (on matters affecting them) vs full voting rights.

4. Q4 · 3 marks · Short answerBoard level

   Explain private placement, ESOP and sweat equity in one line each.

   Hint

   Who is offered the shares?

   Answer

   Private placement: offer to a select group through an offer letter (Section 42). ESOP: option to employees to buy shares later below fair value. Sweat equity: shares to employees or directors at a discount or for non-cash consideration for know-how or value additions.

5. Q5 · 4 marks · Short answerHarder board level

   Suppose a company offered 40,000 shares of ₹10 each (₹3 on application, ₹4 on allotment, ₹3 on call) and received applications for 36,000 shares, all allotted. All money was received except the call on 500 shares. Pass the journal entries.

   Hint

   Under-subscription: work with 36,000 shares (90% met).

   Answer

   Particulars	Dr (₹)	Cr (₹)
   Bank A/c ... Dr	1,08,000
   To Equity Share Application A/c		1,08,000
   (Application money on 36,000 shares)
   Equity Share Application A/c ... Dr	1,08,000
   To Equity Share Capital A/c		1,08,000
   (Transferred to capital)
   Equity Share Allotment A/c ... Dr	1,44,000
   To Equity Share Capital A/c		1,44,000
   (Allotment due)
   Bank A/c ... Dr	1,44,000
   To Equity Share Allotment A/c		1,44,000
   (Allotment received)
   Equity Share First and Final Call A/c ... Dr	1,08,000
   To Equity Share Capital A/c		1,08,000
   (Call due)
   Bank A/c ... Dr	1,06,500
   Calls in Arrears A/c ... Dr	1,500
   To Equity Share First and Final Call A/c		1,08,000
   (Call received except on 500 shares)

6. Q6 · 3 marks · Short answerHarder board level

   Suppose 800 shares of ₹10 each on which ₹4,800 had been received were forfeited, and 500 of them were reissued at ₹7 per share fully paid. Calculate the capital reserve and the balance left in Share Forfeiture A/c.

   Hint

   Per-share forfeited amount first.

   Answer

   Forfeited per share ₹6; on 500 shares ₹3,000; discount ₹1,500; capital reserve ₹1,500; balance ₹1,800 on 300 shares.

7. Q7 · 3 marks · Short answerHarder board level

   Suppose 400 shares of ₹10 each issued at ₹13 (premium ₹3 payable with allotment) were forfeited after the holder paid only application money of ₹2. Allotment money was ₹6 (including premium) and the call ₹5 had been made. Pass the forfeiture entry.

   Hint

   Premium was not received.

   Answer

   Particulars	Dr (₹)	Cr (₹)
   Equity Share Capital A/c ... Dr	4,000
   Securities Premium A/c ... Dr	1,200
   To Equity Share Allotment A/c		2,400
   To Equity Share First and Final Call A/c		2,000
   To Share Forfeiture A/c		800
   (400 shares forfeited)

8. Q8 · 6 marks · Long answerHOTS / competency

   Suppose Tarang Ltd issued 20,000 shares of ₹10 each at par (₹2 application, ₹3 allotment, ₹3 first call, ₹2 final call). Applications came for 30,000 shares: 5,000 were rejected and the rest allotted pro rata, excess adjusted on allotment. Mohan, allotted 100 shares, did not pay either call; his shares were forfeited and reissued at ₹9 fully paid. Pass the journal entries.

   Hint

   Applicants for 25,000 get 20,000; excess = 5,000 × ₹2.

   Answer

   Particulars	Dr (₹)	Cr (₹)
   Bank A/c ... Dr	60,000
   To Equity Share Application A/c		60,000
   (Application money on 30,000 shares @ ₹2)
   Equity Share Application A/c ... Dr	60,000
   To Equity Share Capital A/c		40,000
   To Equity Share Allotment A/c		10,000
   To Bank A/c		10,000
   (Transferred, adjusted and refunded)
   Equity Share Allotment A/c ... Dr	60,000
   To Equity Share Capital A/c		60,000
   (Allotment due @ ₹3)
   Bank A/c ... Dr	50,000
   To Equity Share Allotment A/c		50,000
   (Allotment received)
   Equity Share First Call A/c ... Dr	60,000
   To Equity Share Capital A/c		60,000
   (First call due @ ₹3)
   Bank A/c ... Dr	59,700
   To Equity Share First Call A/c		59,700
   (First call received except on 100 shares)
   Equity Share Final Call A/c ... Dr	40,000
   To Equity Share Capital A/c		40,000
   (Final call due @ ₹2)
   Bank A/c ... Dr	39,800
   To Equity Share Final Call A/c		39,800
   (Final call received except on 100 shares)
   Equity Share Capital A/c ... Dr	1,000
   To Equity Share First Call A/c		300
   To Equity Share Final Call A/c		200
   To Share Forfeiture A/c		500
   (Mohan's 100 shares forfeited)
   Bank A/c ... Dr	900
   Share Forfeiture A/c ... Dr	100
   To Equity Share Capital A/c		1,000
   (Reissued @ ₹9 fully paid)
   Share Forfeiture A/c ... Dr	400
   To Capital Reserve A/c		400
   (Gain on reissue transferred)

9. Q9 · 1 mark · Assertion-reasonHOTS / competency

   Assertion (A): Forfeited shares can be reissued at a discount.
   Reason (R): The discount on reissue cannot exceed the amount forfeited on those shares.
   (a) Both true and R explains A (b) Both true, R does not explain A (c) A true, R false (d) A false, R true

   Hint

   Does R explain why reissue at discount is allowed?

   Answer

   (b) Both are true, but R states a limit; it does not explain why reissue at a discount is permitted.

10. Q10 · 1 mark · MCQHarder board level

    1,000 shares of ₹10 each (₹8 called up) were forfeited after ₹5 per share had been paid. 600 were reissued at ₹6 per share as ₹8 paid up. The amount transferred to capital reserve is:
    (a) ₹1,800
    (b) ₹3,000
    (c) ₹1,200
    (d) ₹600

    Hint

    Discount = ₹2 per share on 600.

    Answer

    (a) Forfeited on 600 = ₹3,000; discount ₹1,200; capital reserve ₹1,800.

Test your recall

Answer in your head or on paper first, then open the card. Pulling an answer out of memory makes it stick far better than re-reading.

1. 1.What is paid-up capital?Show answer

   Called-up capital minus calls in arrears.

2. 2.Name two uses of securities premium.Show answer

   Issuing fully paid bonus shares; writing off preliminary expenses (also discount on issue, premium on redemption, buy-back).

3. 3.Where is the Share Forfeiture balance shown?Show answer

   Added to subscribed capital in the Share Capital note until the shares are reissued.

4. 4.What is the maximum discount on reissue?Show answer

   The amount forfeited on those shares.

5. 5.Where does the gain on reissue go?Show answer

   To Capital Reserve.

6. 6.What is minimum subscription?Show answer

   At least 90% of the issue; otherwise application money is refunded.

7. 7.How many shares are issued to a vendor?Show answer

   Purchase consideration ÷ issue price.

8. 8.Is interest on calls in arrears in the 2026-27 syllabus?Show answer

   No; calls in arrears and advance are recorded without interest.

Quick revision checklist

The night before the exam: can you do each of these without looking?

• ☐Can you list authorised, issued, subscribed, called-up and paid-up capital?
• ☐Can you split allotment money between capital and premium?
• ☐Can you compute excess application money for a pro-rata allottee?
• ☐Can you record calls in arrears and calls in advance without interest?
• ☐Can you issue shares to a vendor at a premium?
• ☐Can you pass forfeiture entries with and without premium received?
• ☐Can you calculate capital reserve after a partial reissue?
• ☐Can you prepare the Share Capital note as per Schedule III?
• ☐Can you explain minimum subscription?
• ☐Can you define private placement, ESOP and sweat equity?

Accounting for Share Capital: frequently asked questions