Which of the following is true about the calls in advance in share capital?

Shown on the Equity and Liabilities side

The correct answer is option 4- Shown on the Equity and Liabilities side.

Calls in Advance refers to the amount received from shareholders before it is actually due on future calls (e.g., final call money received during the second call). It is not part of share capital, because the call hasn't been made yet. It is treated as a liability. The balance in ‘Calls in Advance’ account is shown as a separate item under the title Equity and Liabilities in the company’s balance sheet under the head ‘current liabilities’, as sub-head ‘others current liabilities’. It is not added to the amount of paid-up capital.