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what type of acounts is share application account
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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 |
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