kumar (student) (138 Points)
03 September 2011Money paid to invest in the company but the share were not alloted on the balance sheet date where it should be disclosed in the B/s either in the investements or in the deposit/ advances till the shares are alloted? Plz confirm the answer with any sources available with u...
valji
(Accounts manager-MBA)
(2150 Points)
Replied 03 September 2011
share shold be Allowted within 180 days from the receipt of application money if not alloted then the money shold be return to the investor or apply for extensiion with valuable reason
ashish gupta
( student)
(1922 Points)
Replied 03 September 2011
I appreciate the query. In my opinion it should be shown under advances but lets wait for other views.
ARUN KUMAR
(Financial Consultant )
(992 Points)
Replied 03 September 2011
Hi Freinds,The MCA Recent Notification About Schedule VI Give New Format Of Balance Sheet & Profit & Loss A/c.
As Per This New Format Application Money Received Aganist Pending Allotement Are Specifically Shown Under the Head "HEAD NO. 2- APPLICATION MONEY RECEIVED AGANIST PENDING ALLOTEMENT " IN LIABILITIES/SOURCE OF FUND.
ashish gupta
( student)
(1922 Points)
Replied 03 September 2011
@ Arun Kumar thanks a lot dear friend. but i think the issue is where to show that in the books of investor not that of company
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