English

Under which of the following headings/sub-headings, Calls-in-advance will be presented in the Balance Sheet of a Company as per Schedule III Part I of the Companies Act, 2013? -

Advertisements
Advertisements

Question

Under which of the following headings/sub-headings, Calls-in-advance will be presented in the Balance Sheet of a Company as per Schedule III Part I of the Companies Act, 2013?

Options

  • Current Liabilities

  • Share Capital

  • Share Application Money Pending Allotment

  • Reserves and Surplus

MCQ

Solution

Current Liabilities

Explanation:

Calls in advance are amounts paid in excess by shareholders for calls that are not yet due. Calls in advance are shown separately in the Balance Sheet under the heading 'Current Liabilities' until the calls are made and the amount becomes payable by the shareholder.

shaalaa.com
Accounting Treatment for Share Capital
  Is there an error in this question or solution?
Advertisements
Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×