Practical Company Accounts problems require complete accounting covering share capital, debentures, and financial statements. Step 1: Identify share capital transactions (issue, calls, forfeiture, re-issue) and journalize each. Step 2: Calculate capital accounts showing: Opening shares, additions (new issue, re-issue), deductions (forfeiture), closing shares with amounts. Step 3: Identify debenture transactions (issue, interest, redemption) and journalize. Step 4: Calculate Share Capital section: Authorized capital, Issued capital, Called-up capital, Less: Calls in Arrears, Plus: Calls in Advance, Equals: Paid-Up Capital. Step 5: Calculate Debentures section: Issued debentures, Less: Debenture discount (or Plus: premium). Step 6: Prepare complete Balance Sheet following Schedule VI format. Step 7: Reconcile: Opening Capital + Profit - Dividends = Closing Equity (must match). Common Scenarios: Multiple share issues at different prices, Calls in various stages, Forfeited shares and re-issue, Over-subscription and pro-rata allotment, Debenture conversion, Interest calculations, Depreciation on assets. Workings: Show detailed calculations for: Pro-rata allotment, Forfeiture recovery, Discount amortization, Interest accruals, All share capital components. Documentation: Show clear schedules, Note assumptions (depreciation rates, call dates), Include detailed notes explaining accounting policies, Present balance sheet in proper format. Exam tip: Always prepare detailed share capital working schedules; calculate each component carefully (authorized, issued, called, paid-up); handle over-subscription pro-rata correctly; prepare balance sheet in Schedule VI format; verify all capital components reconcile.