Sarthaks APP
0 votes
in Accounts by (64.1k points)
Money received in advance from shareholders before it is actually called-up by the directors is :

(i) debited to the calls-in-advance account

(ii) credited to the calls-in-advance account

(iii) debited to calls account.

1 Answer

0 votes
by (106k points)
edited by
Best answer

(ii) credited to the calls-in-advance account 

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.