Calls in arrears' is shown in the balance sheet on the liability side _____________.

A. By deducting the amount from the called up capital

B. Under the heading Reserves and Surplus

C. By deducting the amount from the called up capital reserves

D. By deducting the amount from the shares forfeited account

Expert Solution

Correct option is A)

Calls in arrears means that the company has demanded money but the shareholders have not yet paid the money. Calls in arrears is an asset of the company and the company has a right on the same. Hence, they are deducted from share capital on the liabilities side of the balance sheet.

Correct option is A)

Junaid answered 2 years ago

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