Question

Under which of the following heading at liabilities side of the company's balance sheet, the balance in 'Calls-in-Advance' account is shown?

विकल्प

• Share Capital

• Reserve and Surplus

• Money received against share warrants 

• None of the above

Answer 1

Share Capital

Explanation:

The sum in the 'Calls-in-Advance' account is presented separately on the liabilities side of the balance sheet under the heading 'Share Capital,' but it is not added to the amount of paid-up capital. Calls-in-Advance is a company liability.