When a company is formed, a capital contribution will need to be made (debit bank and credit share capital). This is the first capital issue. A company can subsequently issue more capital and the law says that the directors can issue share capital without a resolution if there is only one class of shares. If there is more than one class, then a special resolution will be needed.
The Accounting and Finance Community
ARTICLES

Accrued Rent Income – Example With Journal Entries

When is Earned Revenue Reported?

Do You Pay Tax on Drawings From a Business?

Contingent Asset Accounting and Analysis

Accrued Revenue Accounting and Journal Entries

Accrued Expense Accounting and Journal Entries

Prepayments Occur When Payments Are In Advance
Sunday, January 24, 2021