Advance amount paid by a shareholder towards future calls will be
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The amount received as calls in advance is written as a liability and the company is liable to pay interest from the date of receipt till the date that the call gets due for payment. A rate of 6% p.a. interest is charged on this calls in advance meaning the articles of the company authorizes for the same.
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The amount received as calls in advance is written as a liability and the company is liable to pay interest from the date of receipt till the date that the call gets due for payment. A rate of 6% p.a. interest is charged on this calls in advance meaning the articles of the company authorizes for the same.
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