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SHARES APPLICATION MONEY

This query is : Resolved 
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(Querist)
12 August 2008 ABC Ltd. pays share application money to purchase shares of XYZ Ltd. The share are not allotted till 31/03/08.
In the B/S of ABC Ltd., under which head such payment of share application money should be shown?
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CA Abhishek Tyagi

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CA Abhishek Tyagi (Expert)
12 August 2008 It should be shown under the head loan & advances under the asset side.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
13 August 2008 In the case of the company, pending allotment under current liabilities
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