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

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.

Question

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

A On the asset side of the Balance Sheet.

B As a deduction from called-up capital on the liabilities side.

C As a footnote to the Balance Sheet.

D In the Profit & Loss Account as income.

E As an addition to Reserves and Surplus.

Practice Next

More Presentation of Company Financial Statements Questions

The Division III, inserted in Schedule III of the Companies Act, 2013, prescribes the format for preparation of financial statements of which of the follow...
While preparing the statement of profit and loss, ABC Ltd. classifies its revenue from sale of products under “Other Income.” Is this in compliance with th...
As per Schedule III of the Companies Act, 2013, "Securities Premium Reserve" is shown under:
ABC Ltd. follows Ind AS and presents its balance sheet as per Schedule III of the Companies Act. The company receives ₹5 crore from the issue of debentures...
Debentures are shown in the Balance Sheet under:
In preparing financial statements as per Schedule III of the Companies Act, ABC Ltd. classifies ‘Share Application Money Pending Allotment’ under current l...
Which of the following is not shown in the statement of profit and loss under Ind AS?
To assess the capital invested in the company's operations, K Ltd. needs to determine the capital employed. Given the provided financial data, what is the ...
XYZ Ltd. classifies bank overdraft under 'Cash and Cash Equivalents' in the balance sheet. The overdraft is repayable on demand and regularly fluctuates fr...
Which of the following items is included in operating profit?

Hey! Ask a query

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

Detailed Solution

More Presentation of Company Financial Statements Questions

Hey! Ask a query

Please Register/Login