Question

Under which major headings and sub-headings the following items will be shown in the Balance Sheet of a Company as per Schedule III of the Companies Act, 2013.
i) Long term provisions
ii) Loose Tools
iii) Debentures Redemption Reserve
iv) Trade marks
v) Cheques and bank draft in hand
vi) Long term investments with maturity period less than six months
vii) Interest accrued on investments.
viii) Income received in advance
ix) Work-in-progress
x) Office-Equipments
xi) Bonds
xii) Capital Reserve Kk

Answer 1

Answer:

Item Heading Sub-heading

Prepaid Insurance Current Assets Other Current Assets

Investments in Debentures Non-Current Assets Non-Current Investments

Calls-in-arrears Shareholder's Funds Share Capital: Notes to Accounts

Unpaid Dividend Current Liabilities Other Current Liabilities

Capital Reserve Shareholder's Funds Reserved and Surplus

Loose Tools Current Assets Inventories

Capital work-in-progress Non-Current Assets Fixed Assets

Patents being developed by the company Non-Current Assets Intangible Assets under development