We used to transfer fund received every month to share application money received from shareholders. Now at the year end how to show that balance in balance sheet under share Capital
Jacky (ACCOUNT EXECUTIVE) (219 Points)
24 March 2014We used to transfer fund received every month to share application money received from shareholders. Now at the year end how to show that balance in balance sheet under share Capital
SIVARAMAKRISHNAN P.G
(CA final student)
(129 Points)
Replied 24 March 2014
Amount of application money received can be shown as share capital only when the shares are allotted to the shareholders.
In case the shares are not allotted then the amount can be shown under "Share Application money pending allotment" in the revised Schedule VI format
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