Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XV. Accounts

Collection:: Economics Books

ACCOUNTS [77° if the discount cannot be written off, a sinking fund should be created, built up by annual contributions from revenue of such an amount as shall, by the date of redemption, represent the total amount of discount at which the deben- tures were originally issued. Commission on issues of shares should be written off at the earliest possible date, as also should shares issued at a discount pursuant to s. 47. [n the case of a premium, if the conditions of the issue provide for the repayment at par of the loan capital in respect of which it was collected, this can be retained on the balance sheet, and in the case of both share and debenture capital, there is no legal obstacle to the amount of cash collected by way of premium being treated as divisible profit, if the articles of the company permit. In practice, however, a cash distri- bution might involve claims for income-tax and such premiums are more often used for the purpose of a capitalisation of profits and a distribution of bonus shares. Cash resulting from issues of capital should be transferred from time to time from the share capital cash accounts to the current banking account. Should there be any amounts outstanding on account of any call, after the due date fixed for its payment, notice will have to be sent to the shareholders in arrear, and such steps taken as may be necessary to enforce payment, in order that the call account may be fully cleared by the cash received. The upper parts of the call letters are returned to the company by its bankers, who will have given any necessary receipt to the shareholder. They are then checked against the call cash book, and the amounts paid up on the shares posted to the credit of the individual shareholders in the share register. The transfer and other registration fees should be collected mpanster from the registration department at stated intervals by Fees. the accountant, who should satisfy himself that all fees for transfers lodged for registration, probates, letters of adminis- tration and other transfers of title have been collected. {t is usual for the board to issue a cheque in favour of the Dividend and bankers for the exact amount of any dividend or debenture Interest interest, with instructions for it to be placed to the credit Payments. of the specific dividend or interest account, and this cheque will be treated through the cash book in the same way as an ordinary payment and charged to dividend or interest, which will in due course be cleared by crediting the warrants, as paid, by a journal entry agreeing with the special pass book. In some companies it is the practice to journalise the Journal whole of the entries in the cash book. The only object Entries.

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