What is meant by Calls-in-Advance? Post category:Accountancy Reading time:1 mins read SOLUTION Calls in advance refers to the amount which has not been called by company but has been paid by some shareholders in advance. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostHow are Calls-in-arrears shown in the Balance Sheet? Next PostHow are Calls in Advance shown in the Balance Sheet? You Might Also Like A and B are partners in the ratio of 3: 2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March, 2020 amounted to Rs. 1,60,000 and Rs. 1,40,000 for A and B respectively. Their drawings during the year were Rs. 30,000 each. As per Partnership Deed, interest on capital@10% p.a. on opening capitals had been provided to them. Calculate opening capitals of partners given that their profit was Rs. 90,000. Show your workings clearly. October 11, 2022 Distinguish between ‘Fixed Capital Account’ and ‘Fluctuating Capital Account’ on the Basis of Credit Balance. (Al 2017, COSE 2019) October 7, 2022 Name any two sub-line items (sub-headings) under which “Current Liabilities” shall be classified in a Company’s Balance Sheet. September 30, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B are partners in the ratio of 3: 2. The firm maintains Fluctuating Capital Accounts and the balance of the same as on 31st March, 2020 amounted to Rs. 1,60,000 and Rs. 1,40,000 for A and B respectively. Their drawings during the year were Rs. 30,000 each. As per Partnership Deed, interest on capital@10% p.a. on opening capitals had been provided to them. Calculate opening capitals of partners given that their profit was Rs. 90,000. Show your workings clearly. October 11, 2022
Distinguish between ‘Fixed Capital Account’ and ‘Fluctuating Capital Account’ on the Basis of Credit Balance. (Al 2017, COSE 2019) October 7, 2022
Name any two sub-line items (sub-headings) under which “Current Liabilities” shall be classified in a Company’s Balance Sheet. September 30, 2022