presentation of "Share Application Money"
This query is : Resolved
CA PARTH SHAH
(Querist)
07 July 2011
hello friends
i want to know where Share Application Money will be presented in balance sheet as per schedule VI as per Company Act 1956?
i want to know where Share Application Money will be presented in balance sheet as per schedule VI as per Company Act 1956?
07 July 2011
Neither in 'share capital'nor in 'current liabilities'.
ICAI Compendium of Opinions {Vol. XV, (1996 Edn) pages 34 to 36} says 'share application money pending allotment' should be shown in the balance-sheet under a separate heading between 'Share Capital'and 'Reserves and Surplus'.
ICAI Compendium of Opinions {Vol. XV, (1996 Edn) pages 34 to 36} says 'share application money pending allotment' should be shown in the balance-sheet under a separate heading between 'Share Capital'and 'Reserves and Surplus'.
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