Interest on calls in arrears is charged according to Table F at ........

General Accounting Principles Accounting for Shares

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Interest on calls in arrears is charged according to Table F at:

6% p.a.

10% p.a.

5% p.a.

12%

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Explanation:

Calls in arrears carry an interest rate of 10% and calls in advance carry an interest rate of 12% according to table F of Companies Act. 2013

if the articles of the company is silent about the rate to be charged. Calls in arrears is an asset and hence debited and calls in advance is a liability and hence credited.

Calls in arrears is an asset to the company as it it is the amount due to the company while calls in advance is a liability of the company .