Maharashtra State BoardHSC Commerce 12th Board Exam
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Give One Word / Term / Phrase for the Following Statement : - Book Keeping and Accountancy

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One Word Answer

Give one word / Term / phrase for  the following statement :
Deduction made from share capital to find out paid up capital.

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Solution

Calls-in-arrears

Explanation: Sometimes, a shareholder might not pay the call money on all the shares or on some of the shares held by him. In such cases, the unpaid amount is treated as call in arrears. According to Table A, the company is authorised to charge interest on call in arrears @ 5% p.a. till the amount remains unpaid. The amount of call in arrears is deducted from the called-up capital in the Balance Sheet to show the net paid-up capital by the shareholder.

Concept: Calls in Advance and Arrears
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 10 Company Accounts Part - 1 (Accounting for Shares)
Exercise | Q 9 | Page 350
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