Company Accounts

Share Capital

Medium

common

The balance in 'Calls in Advance' account is shown as a separate item under the title Equity and Liabilities in the company's balance sheet, identify the same.

Under the head 'current liabilities', as sub-head 'others current liabilities'and is not added to the amount of paid-up capital.

Under the head 'current liabilities', as sub-head 'others current liabilities'and is added to the amount of paid-up capital.

Under the head 'current liabilities', as sub-head 'others current liabilities'and is added to the amount of called up capital.

Under the head 'current liabilities', as sub-head 'others current liabilities'and is added to the amount of securities premium reserve..

✅ Correct Option: 1

Calls in advance is money received before it becomes due, so it cannot form part of paid-up capital. It is shown separately as Other Current Liabilities under Current Liabilities and is not added to paid-up or called-up capital.

2022: 8 Aug Shift 2

Which from the following is also known as 'Vertical Organisation'?

2025: 2 June Shift 2

Which of the following statements are true with reference to a "company"?

(A) The directors of the company are the owners of the company.

(B) A company is an artificial person.

(D) The liability of the members of the company is limited to the extent of shares held by them

Choose the correct answer from the options given below:

2025: 30 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Under Subscription	(I) Issue of Shares at an amount more than the nominal or par value of shares.
(B) Issue of Shares at a Premium	(II) It is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.
(C) Over Subscription	(III) The amount so received from the shareholders when shareholders pay a part or the whole of the amount of the calls not yet made.
(D) Calls in Advance	(IV) when applications for more shares of a company are received than the number offered to the public for subscription.

Choose the correct answer from the options given below:

2023: 11 June Shift 3

Arrange the following steps in correct sequence with regard to Shares of a company.

(A) Making Calls

(B) Forfeiture of Shares

(D) Calls in Arrears

(E) Reissue of Shares

Choose the correct answer from the options given below :

2025: 27 May Shift 1

The balance in the securities premium account can not be used ------------?

2025: 22 May Shift 1

Gupta Ltd. issued 1,000 equity shares of Rs. 100 each as fully paid-up, to the vendor, in consideration of the purchase of plant and machinery worth Rs. 1,00,000. Which of the following entry will be recorded in the company's journal for it?

The balance in 'Calls in Advance' account is shown as a separate item under the title Equity and Liabilities in the company's balance sheet, identify the same.

Solution

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