Calls in advance are treated in the balance sheet as_____...
Calls in advance are treated in the balance sheet as______
Current asset
Fixed asset
Current liability
Fixed liability
Correct answer is C
Calls in advance is treated as a current liability until the calls are made and the amount actually becomes payable by the shareholders
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \t...
Use the information to answer the given question. \(\begin{array}{c|c} & D\\ \hline \text{O...
Given Dept A Dept B Floor space 40meter square 60meter square Machine hours 1200 140...
\(\begin{array}{c|c} & N \\ \text{Debtors (1/1/98)} & 2,000 \\ \text{Debtors (31/12/98)} &am...
\text{Capital} & 12,700 & \text{Purchases} & 7,100 \\ \hline \text{Debtors} & 4,...