Match List-I with List-II:List-IList-II(A) Calls in Advance A/c Dr.To Particular Call A/c(I) For Interest due on Calls in Advance(B) Interest on Calls in Advance A/c Dr.To Sundry Shareholders' A/c(II) For Interest Paid on Calls in Advance(C) Sundry Shareholders' A/c Dr.To Bank A/c(III) Calls in advance adjusted with the call money due(D) Bank A/c Dr.To Calls in Arrears A/cTo Interest on Calls in Arrears A/c(IV) Calls in arrears received with interestChoose the correct answer from the options given below:
- A(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- B(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
- C(A) - (III), (B) - (I), (C) - (II), (D) - (IV)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Let's track the accounting entries for calls:Entry (A) transfers collected calls in advance to satisfy a live call obligation (III)Entry (B) records the company's liability for interest expenses due on advance balances (I)Entry (C) records the actual payout execution of interest to stakeholders (II)Entry (D) processes incoming payments clearing out old arrears alongside interest received (IV)Matches sequence: (A) - (III), (B) - (I), (C) - (II), (D) - (IV).