refer to call money or allotment money that has been paid even before the money has been called up.

Calls in advance

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Calls in arrears

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Solution

The correct option is A Calls in advance
Calls in advance refer to call money or allotment money that has been paid even before the money has been called up.

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Similar questions

Q. CAS Ltd. issued 40,000 shares of Rs 10 each at a premium of 20% on May 01 payable as follows:
On application Rs 4.50 (inclusive of premium)
On allotment Rs 2.50
On first and final call Rs 5.00
Mr. X, to whom 2,000 shares were allotted, has paid Rs 10,000 on June 01. At the time of remitting the allotment money, she indicated that the excess money should be adjusted towards the call money. The directors of the company made the first and final call on October 31. The company has a policy of paying interest on calls-in-advance. The amount of interest paid to Mr. X on calls-in-advance = ?

A company has offered for subscription to the public 10,000 shares of Rs 10 each. It has received applications for 15,000 shares. Company has decided to allot shares on prorata basis. Gunakshi holding 200 shares failed to pay

allotment money and first call money. Her shares were forfeited :

Amount payable was as under :

Rs 2 per share on application.

Rs 3 per share on allotment.

Rs 5 per share on call.

Calculate the amount unpaid on allotment.

Q. When shareholders make default in the payment of allotment money or call money due from them, it is termed as .

Q. Krishna & Co. Ltd. with an authorised capital of ₹ 2,00,000 divided into 20,000 Equity Shares of ₹ 10 each, issued the entire amount of the shares payable as:
₹ 5 on application (including premium ₹ 2 per share),
₹ 4 on allotment, and
₹ 3 on call.
All share money is received in full with the exception of the allotment money on 200 shares and the call money on 500 shares (including the 200 shares on which the allotment money has not been paid).
The above 500 shares are duly forfeited and 400 of these( including the 200 shares on which allotment money has not been paid) are reissued at ₹ 7 per share payable by the purchaser as fully paid-up. Pass journal entries(including cash transactions) and show the balances in the Balance Sheet giving effect to the above transactions.

Q. W Ltd. issued 2,00,000 shares of Rs. 100 each at a premium of 20% on May 01, 2015, payable as follows:
On application. (including premium), Rs. 45
On allotment, Rs. 25
On first & final call, Rs. 50
Sunil to whom 10,000 shares were allotted, has paid Rs. 5,00,000 on June 01, 2015. At the time of remitting the allotment money, he indicated that the excess money should be adjusted towards the call money. The directors of the company made the first and final call on October 31, 2015. The company has a policy of paying interest on calls- in-advance as per Table F of Schedule I to the Companies Act, 2013. The amount of interest paid to Sunil on Calls-in-Advance will be ______.

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refer to call money or allotment money that has been paid even before the money has been called up.

The correct option is A Calls in advanceCalls in advance refer to call money or allotment money that has been paid even before the money has been called up.

The correct option is A Calls in advance
Calls in advance refer to call money or allotment money that has been paid even before the money has been called up.