The advance money received from the shareholders before the calls are made is

The correct answer is: D. Credited to call in advance account

The advance money received from the shareholders before the calls are made is credited to the call in advance account. This account is used to track the amount of money that has been received from shareholders in advance of calls. The money in this account is used to pay for the costs of issuing the shares, such as legal fees and printing costs.

The other

• Option A is incorrect because the residual call amount is the amount of money that is still owed by the shareholders after the calls have been made.
• Option B is incorrect because the call in advance account is a credit account, not a debit account.
• Option C is incorrect because the residual call amount is not credited to the account.