Subscription Money Not received

    Posted By : CS Gaurav / Published on : 12-Jun-2018 09:15 PM / View : 77 / Comment : 0
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    Dear all members, Company Incorporated in 2012. subscriber not pay subscription money as per MOA and business was not started ... As per accounting rule 1. at the time of incorporation paid up capital rs. 1,00,000/- shown as a capital and subscriber as a debtor. 2. Now debtor was not ready to pay subscription money 3. can we considered as a loss. so, balance sheet will tally as per accounting slandered. Please share your views. If, there is any rules and act specified provide me. thanking you.
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