share application money
This query is : Resolved
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.
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.
S.Srinivasaraghavan
(Expert)
05 November 2008
Advance as the shares are not yet allotted in your name.
CA Bosu babu
(Expert)
05 November 2008
Show as advance paid for allotment of shares until you get confirmation letter from the co.
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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