Company Accounts

Share Capital

Easy

common

Select the features from the following which are related to Calls in Arrears:

(A) It reduces the paid-up capital

(B) It is debited where a company maintains its account.

(C) It increases liability

(D) It is shown on Asset side of the Balance Sheet

Choose the correct answer from the options given below:

(A), (B) and (C) only

(B) and (C) only

(A) and (B) only

(A) and (C) only

✅ Correct Option: 3

Calls in Arrears is the amount called but not yet received. It is deducted from called-up/subscribed capital, thereby reducing paid-up capital (A), and where a separate account is maintained it carries a debit balance (B). It is neither a liability (C) nor shown on the asset side (D); it appears as a deduction in the Notes to Share Capital.

2022: 15 July Shift 2

The amount received on First and Final call is

2025: 15 May Shift 2

Where there is no articles of association of its own, which of the following provisions applies as per Table A.

2022: 15 July Shift 2

Security Premium Reserve can be used by Hero Ltd. for

2025: 24 May Shift 1

While issuing shares, the application money should be atleast ______ of face value.

2022: 20 July Shift 1

Identify the statement that is/are not true from the following.

(a) Shares can be forfeited for non payment of call money.

(b) The profit on forfieted shares is transferred to capital reserve.

(d) Application money should be at least 10% of the face value of the share.

Choose the correct answer from the options given below :

2025: 29 May Shift 2

The rate of interest on calls in arrears as per Table F can not exceed.

Solution

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