Question

Under what heads the following items are shown in the Balance Sheet of a Company? (1) Forfeited Shares Account (1) Government Securities (iii) Uncalled Liability on partly paid shares (v) Income Received in Advance (v) Stores and Spare-parts (v) Motor Vehicles​

Answer 1

Explanation:

trademarks on the balance sheet will commonly be included in an entry for "intangible assets." These usually appear in the "non-current assets" or "long-term assets" portion of the assets section.(asset side)

B) The Income Received in Advance A/c appearson the liabilities side of the Balance Sheet. While preparing the Trading and Profit and Loss A/c we need to deduct the amount of income received in advance from that particular income.(liabilities side)

C) stores and spares come in asset side of balance sheet under the head of current asset. stores and spares are treated as inventories.(asset side)

D) Share forfeited account is shown on the liabilityside of the balance sheet .(liabilities side)

E) When a company collects a security depositfrom a customer, the amount appears on itsbalance sheet as a liability.(liabilities side)

F) Uncalled amount does not come anywhere . It is just reflected in notes to accounts when we mention authorised subscribed issued and paid up capital.

In short...

A) asset side

B) liabilities side

C) assets side

D) liabilities side

E) liabilities side

F) not including in balance sheet