Revised schedule vi
This query is : Resolved
23 January 2014
in which part of b/s calls in arrear will be shown?
23 January 2014
1. In the liability side. Should be shown separately in share capital by way of deduction.
2. If the calls in arrears pertains to the shares subscribed by the subscribers to the M.O.A,it should not be deducted as said above. Nominal value should be shown as 'subscribed and paid up capital' and the calls in arrears should be disclosed in the asset side of the balance sheet. Courtesy - ICAI guidance note.
2. If the calls in arrears pertains to the shares subscribed by the subscribers to the M.O.A,it should not be deducted as said above. Nominal value should be shown as 'subscribed and paid up capital' and the calls in arrears should be disclosed in the asset side of the balance sheet. Courtesy - ICAI guidance note.
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