application money is first of all is a liability since it is till now not converted into the capital as not alloted. secondly if we go by schedule vi then their the placing of share application money is just below the share capital hence it shown as seperately under the sub head share capital up to the allotment of shares to the applicant and the from the date of allotment it will form part of share capital.
application money is first of all is a liability since it is till now not converted into the capital as not alloted. secondly if we go by schedule vi then their the placing of share application money is just below the share capital hence it shown as seperately under the sub head share capital up to the allotment of shares to the applicant and the from the date of allotment it will form part of share capital. :P
CAclubindia
