《财务会计教学》PPT课件.ppt

2,Lecture1,ShareholdersEquity(Part1),3,COMMONWEALTHOFAUSTRALIACOPYRIGHTREGULATIONS1969WARNINGThismaterialhasbeencopiedandcommunicatedtoyoubyoronbehalfofCurtinUniversityofTechnologypursuanttoPartVAoftheCopyrightAct1968(theAct)ThematerialinthiscommunicationmaybesubjecttocopyrightundertheAct.AnyfurthercopyingorcommunicationofthismaterialbyyoumaybethesubjectofcopyrightprotectionundertheAct.Donotremovethisnotice,4,Objectives,Distinguishbetweendifferentformsofcorporateentities.Distinguishbetweendifferenttypeofshares.Accountforshareissuesfullypayableonapplicationandbyinstallments.Accountforoversubscriptions.Accountforshareforfeitureandreissue.,5,Typesofcompanies,ListedvsunlistedLimited,unlimited,vsno-liabilityPubliccompaniesOwnershipiswidelyspreadManycompanylawprovisionsaredirectedatpubliccompaniesProprietarycompaniesLimitedmembershipRestrictionsonraisingfundsLargevssmalldistinctioniscommon,6,Keyfeaturesofthecorporatestructure,AcompanyisalegalentityLimitedliabilitySharecapitalledgeraccountreflectsthecompanysownershipEachsharerepresentsaproportionalrighttothecompanysnetassetsCompaniescanissuedifferenttypesofsharese.g.ordinaryorpreferenceshares,7,Typesofshares,Ordinaryshares:Mostbasicandcommontype.Paymentofdividendsrankafterpreferenceshareholders.Preferenceshares:Preferentialastothepaymentofdividendsand/orastoareturnofcapitalinawinding-up.Holdersareentitledtoafixedannualrateofdividend.Accountingentriesarethesameinbothissuesordinaryandpreference.,8,Issueofpubliccompanyshares,Aprospectusisrequiredforapublicissue.Minimumsubscriptionmayberequired.Issuecanbeunderwritten.Shareissuecostsaretreatedasareductioninsharecapital(DrShareissuecosts).Whatiftheissueisoversubscribed?Sharesissuedmayhaveaparvalueornoparvalue.,9,Accountingforshareissues,NoaccountingentriesarepreparedwhentheinvitationtosubscribeismadeAccountingcommencesonreceiptofapplicationformsandmoniesAccountsinvolved:CashTrust(formoniesreceivedbeforesharesareissued/allotted)ApplicationShareCapitalCall(ifpayableby2ormoreinstalments)CashCallsinAdvance,10,Receiptofapplicationmonies,Onreceiptofapplicationmonies:CashtrustDryApplicationCry(Moniesreceived$xpershare)Beforeissue/allotmentofshares:Applicationaccountisaliability.Applicationmoniesreceivedbeforesharesareissuedmustbeheldinaseparatetrustaccount.Ifaminimumsubscriptionlevelhasbeensetandisnotreached:Applicationmoniesmustberefundedbyreversingtheaboveentry.,11,Allotmentofshares,Ifaminimumsubscriptionhasbeensetandreached,thedirectorsallottheshares.ApplicationDrySharecapitalCry(No.sharesxapplicationamountpershare)Thesharecapitalaccountrecordstheequitycontributedbyshareholders.,12,Allotmentofshares,Afterallotmentthefollowingentriesmayberequired:Refundtounsuccessfulapplicants:ApplicationDryCashtrustCry(Refundtounsuccessfulapplicants)2.Transferofexcessapplicationmonies:ApplicationDryCallsinadvanceCry(Transferofexcessapplicationmonies)3.Transfercashtocompanysbankaccount:CashDryCashtrustCry(Transferofcashfromcashtrustaccount),13,Issueofsharesfullypayableonapplication,20081MarXYLtdissuedaprospectusinvitingsubscriptionfor200,000ordinarysharesatanissuepriceof$1.50each,payableinfullonapplication.31MarApplicationsclosedand200,000shareswerereceived.14AprDirectorsallottedtheshares.Required:Preparethejournalentriestorecordtheshareissue.,14,Issueofsharesfullypayableonapplication,200831MarCashtrustDr300,000ApplicationCr300,000(moneyreceivedonapplicationheldintrust)(Applicationaccountisaliabilitybeforeallotmentofshares.)14AprApplicationDr300,000SharecapitalCr300,000(allotmentof200,000shares)CashDr300,000CashtrustCr300,000(transferofcashfromtrustaccounttonormalbankaccount),15,Callentries,OnlymadeifsharesarepayablebyinstalmentsMakecall:CallDrySharecapitalCry(Callof$xpersharexno.shares)2.Transferrelevantamountofcallsinadvance:CallsinadvanceDryCallCry(Transferofcallsinadvance)3.Receiptofcallmonies:CashDryCallCry(Receiptofcallmonies),16,Issueofsharespayablebyinstalments,20081MarXYLtdissuedaprospectusinvitingsubscriptionfor200,000ordinarysharesatanissuepriceof$1.50each,payable$1.30onapplicationand20cinafuturecall.31MarApplicationsclosedand200,000shareswerereceived.14AprDirectorsallottedtheshares.200924MayCallof20cpersharewasmade.Allcallmoneywasreceivedby1June.Required:Preparethejournalentriestorecordtheshareissue.,17,Issueofsharespayablebyinstalments,200831MarCashtrustDr260,000ApplicationCr260,000(moneyreceivedonapplicationheldintrust)14AprApplicationDr260,000SharecapitalCr260,000(allotmentof200,000shares)CashDr260,000CashtrustCr260,000(transferofcashtonormalbankaccount),18,Issueofsharespayablebyinstalments,200924MayCallDr40,000SharecapitalCr40,000(callof20con200,000shares)1JunCashDr40,000CallCr40,000(receiptofcallmoney),19,Oversubscription,MoreapplicationsforsharesarereceivedthantherearesharestobeissuedDirectorsmayallottheshares:Onafirst-come-first-serveorpro-ratabasisTreatmentofexcessapplicationmoniesdependsonprospectustermsorcompanysconstitutionFirst-come-first-serveallotment:RefundsaremadetounsuccessfulapplicantsPro-rataallotment:CommonforcompaniestoretaintheexcessExcessistransferredtoCallsinadvanceaccountTreatedaspartofsharecapitalIftherearenofuturecalls,excessisrefunded,20,Oversubscription,20081MarXYLtdofferedforsubscription200,000ordinarysharesatanissuepriceof$1.50each,payable$1.00onapplicationand50cinacallasrequired.31MarApplicationsclosedand250,000shareswerereceived.14AprShareswereallotted.Directorsretainedexcessapplicationmoneyasanadvanceonfuturecalls.200924MayAcallfor50cpersharewasmade.1JunAllmoneydueo