SOLUTION
(i) Calls in Arrears: It is deducted from the subscribed but not fully paid capital, (ii) Calls in Advance: It is shown under the head ‘Current Liabilities’ under sub-head ‘Other Current Liabilities’.
SOLUTION
(i) Calls in Arrears: It is deducted from the subscribed but not fully paid capital, (ii) Calls in Advance: It is shown under the head ‘Current Liabilities’ under sub-head ‘Other Current Liabilities’.