šŸ“¢ Too many exams? Donā€™t know which one suits you best? Book Your Free Expert šŸ‘‰ call Now!
  • google app store apple app store
    • āœ–

      Question

      In the context of a company, calls-in-arrears is

      shown:
      A On the asset side of the Balance Sheet. Correct Answer Incorrect Answer
      B As a deduction from called-up capital on the liabilities side. Correct Answer Incorrect Answer
      C As a footnote to the Balance Sheet. Correct Answer Incorrect Answer
      D In the Profit & Loss Account as income. Correct Answer Incorrect Answer
      E As an addition to Reserves and Surplus. Correct Answer Incorrect Answer

      Solution

      Calls-in-arrears represents the amount not paid by shareholders; hence, it is subtracted from the called-up share capital to show the actual paid-up capital.

      Practice Next
      More Presentation of Company Financial Statements Questions
      ask-question