15 July 2013
If the share application money is pending for more than 1 year. then can it be shown in other current liability head of balancesheet? Anything else is required to be disclosed? pls reply.
15 July 2013
no it cannot be shown under current liability.
it has to be reported just after shareholder's fund .
I addition to that following disclosure has to be made in notes to accounts Over due period for which application money is pending prior to allotment of shares.
Reason for over due period for which application money is pending prior to allotment of shares
CAclubindia
