Share application money pending allotment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 May 2014 1)In balance sheet(2012-2013) of our company their is share application money pending for allotment, now as per new Companies Act (2013) what needs to be done with this amount?

2)Company XYZ is a holding company had paid some amount to its subsidiary company as advance can that amount be taken as advance for goods to be supplied in current year balance sheet?

Guest

Guest (Expert)

14 May 2014 Treat the money as unsecured load and go ahead

Guest

Guest (Expert)

14 May 2014 Treat the money as unsecured loan and go ahead

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