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Journal entries for company accounts. Eg- Bank ac To sh application Sh application To sh capital Here to understand these entries logically ( traditional method). Is share application and share capital nominal accounts?

Chris Topher

CA Foundation

★ 5

02-May-22 20:59

246

Answers (1)

Share Application or share allotment or Share capital A/c all are personal accounts as they represent money from the shareholders and when money is due, these are to be debited because of the rule "Debit the receiver".

Swetha S

CA Inter

★ 15K+

04-May-22 22:51