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share application money

This query is : Resolved 
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(Querist)
05 November 2008 if any money has been given for purchase of shares but the allotment is still pending, how it will be treated in our books?
whether it will be shown under investments since we have paid money for that or will it be shown as advance since allotment is pending.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
05 November 2008 Advance as the shares are not yet allotted in your name.
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CA Bosu babu

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CA Bosu babu (Expert)
05 November 2008 Show as advance paid for allotment of shares until you get confirmation letter from the co.
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CA R N Mohil

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CA R N Mohil (Expert)
05 November 2008 As advance recoverable in cash or kind or for value to be recd
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