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Question

Which of the following does not appear under the head 'share capital' of a balance sheet?


A
Preference share capital
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B
Calls in arrears
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C
Equity share capital
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D
Capital Reserve account
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Solution

The correct option is C Capital Reserve account
Under the head Share capital all transactions relating to share capital both equity and preference. Hence, equity share capital, preference share capital and calls in arrears will appear under the head share capital. Capital reserve account will be appear under the head reserves and surplus and is a reserve created out of capital profits.

Accountancy

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