Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:
Where will Calls-in-Advance and interest payable be shown on a company's balance sheet?
Options:
Shareholder's Funds
Other Current Liabilities
Other Non-current Liabilities
Trade Payables
Correct Answer:
Other Current Liabilities
Explanation:
We show the Calls-In-Advance in the Equity and Liabilities part of the Balance Sheet under the head Current Liabilities and sub-head Other Current Liabilities.