Question

16 What is meant by Shares Issued at Discount? State the conditions for the issue of
shares at discount under the Companies Act.
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Answer 1

Answer:

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Answer 2

Answer:

Explanation:

The issue of shares at a discount means the issue of the shares at a price less than the face value of the share. For example, if a company issues share of Rs.100 at Rs.90, then Rs.10 (i.e. Rs 100—90) is the amount of discount. ... The company debits it to a separate account called 'Discount on Issue of Share' Account.