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Application Money

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(Querist)
18 June 2008 Application money received by company will be shown as liability or we can shown it as capital??????
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sagar

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sagar (Querist)
18 June 2008 thank u 4 reply
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CA BISHAN AGARWAL

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CA BISHAN AGARWAL (Expert)
18 June 2008 IT SHOULD BE SHOWN IN LIABILITIES
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sagar

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sagar (Querist)
21 June 2008 thanks bishan

bt i hv client who have received money towards application money & has urgent need of finance,so he wants loan for this. If he shows application money in capital account then his share capital becomes more than his authorised capital & if shows as liabilities then his working capital will be negative then bank will not provide loan,any other way if any????????
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Chintan Gajjar

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Chintan Gajjar (Expert)
23 June 2008 Dear Friend,
It is the correct way to show Application Money under Share Capital Head. If it exceeds authorised capital, it means you have to return some part of the application money. Bank will get attention if you show under anyother head for finance purpose.
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