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As per the format of Balance sheet prescribed as per Schedule III of Companies act 2013, Calls unpaid is shown under the heading of ______.

A.
Share application money pending allotment
B.
Money received against share warrant
C.
Shareholders Fund
D.
Share capital

Solution:

The correct answer is Share capital. As per the format of the Balance sheet prescribed as per Schedule III of Companies act 2013, Calls unpaid will be shown under the heading of the Share capital of the balance sheet. Important PointsSchedule III of the Companies Act 2013, provides the format of financial statements of companies complying with Accounting Standards (AS) and Ind AS under its Division I and Division II respectively. Now Schedule III will apply to NBFC covered under Ind AS.

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