As per Schedule VI of the Companies Act, 1956, under which of the following heads is 'Premium on issue of Preference Shares' shown in the Balance Sheet of a company?

Share Capital

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Non-Current Liabilities

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Reserves and surplus

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Current Liabilities

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Solution

The correct option is C Reserves and surplus
The government has decided to revise schedule VI to the Companies Act, which stipulates the manner in which every company prepares and presents its balance sheet and profit and loss account. ... The draft revised schedule VI requires companies to classify assets and liabilities into current and non-current categories.

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Similar questions

Under which sub-headings will the following items be shown in the Balance Sheet of a company as per Revised Schedule VI, Part of the Companies Act, 1956 (now Schedule III, Part I of the Companies Act, 2013).
(i) Long-term loan (ii) Capital Redemption Reserve.
(iii) Short-term provision (iv) Goodwill.
(v) Provision for warranties. (vi) Brand/Trade-marks.

Under which major headings and sub-headings will the following items be shown in the Balance Sheet of a company as per Schedule III Part I of the Companies Act, 2013 :

(i) Net loss as shown by Statement of Profit and Loss

(ii) Capital redemption reserve.

(iii) Bonds

(iv) Loans repayable on demand

(v) Unpaid dividend

(vi) Buildings

(vii) Trademarks

(viii) Raw materials

Q. Premium received on issue of shares are shown under the head _________ in Balance Sheet.

Under which major heading and sub-heading will the following items be presented in the Balance Sheet of a company as per the Schedule III of the Companies Act, 2013.

(i) Copyrights

(ii) Cheques

(iii) Capital Redemption Reserve

(iv) Stock of Finished Goods

Q. As per Schedule (VI) of the Companies Act,

1956

, forfeited shares account will be ________________.

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