Arrears example sentences



But your men are taking all my crop! You are still in arrears.Callsin- Arrears represent the debit balance of all the calls account and are shown as a deduction from the paid-up capital on the liabilities side of the balance sheet.When any shareholder fails to pay the amount due on allotment or on any of the calls, such amount is known as 'Calls-in-Arrears'/'Unpaid Calls'.Conversion of a Receipt and Payment Account into an Income and Expenditure Account: This essentially involves five steps namely, adjusting the revenue receipts on the debit side to include outstanding incomes and incomes relating to the current year received earlier and to exclude amounts received in arrears or in advance; adjusting revenue payments on the credit side; identifying and showing non-cash expenses and losses on the debit side of the Income and Expenditure Account; computing and showing profits/losses from trading and/or social activities on the credit/debit side of the Income and Expenditure Account; and ascertaining the surplus or deficit as the closing balance of the Income and Expenditure Account.This essentially involves five steps namely, adjusting the revenue receipts on the debit side to include outstanding incomes and incomes relating to the current year received earlier and to exclude amounts received in arrears or in advance; adjusting revenue payments on the credit side; identifying and showing non-cash expenses and losses on the debit side of the Income and Expenditure Account; computing and showing profits/losses from trading and/or social activities on the credit/debit side of the Income and Expenditure Account; and ascertaining the surplus or deficit as the closing balance of the Income and Expenditure Account.Therefore, paid-up capital is equal to the called-up capital minus call-in-arrears.If any of the shareholders has not paid amount on calls, such an amount may be called as 'calls in arrears'.A company has the power to charge interest on calls-in-arrears and is under an obligation to pay interest on calls-in-advance if it accepts them in accordance with the provisions of Articles of Association.However, where a company maintains 'Calls-in-Arrears' Account, it needs to pass the following additional journal entry.The Articles of Association of a company usually empower the directors to change interest at a stipulated rate on calls in arrears.However, it is not mandatory for a company to maintain a separate Calls-in-Arrears Account.On receipt of the call amount together with interest, the amount of interest shall be credited to interest account while call money shall be credited to the respective call account or to calls-in-arrears account.Accordingly, share capital account is debited with the amount calledup in respect of shares are forfeited and crediting the espective unpaid calls account's or calls in arrears account, as the case may be will the unpaid amount, and share foreited account with the amount already received.

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