Classify the following items under major head and sub-head (if any) in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013: (i) Capital Work-in-Progress: (ii) Provision for Warranties; (iii) Income received in Advance; and (iv) Capital Advances

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Solution

Item Major Head Sub-Head

Capital Work-in-Progress Non-Current Assets Fixed Assets- Capital Work-in-Progress

Provision for Warranties Non-Current Liabilities Long Term Provisions

Income Received in Advance Current Liabilities Other Current Liabilities

Capital Advances Non-Current Assets Long Term Loans & Advances

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Similar questions

Q. State under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013:
(i) Capital Reserve;
(ii) Calls-in-Advance;
(iii) Loose Tools; and
(iv) Bank overdraft.

Q. 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 Companies Act, 2013?
(i) Provision for Employee Benefits.
(ii) Calls-in-Advance.

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

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 the following items will be shown in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013.

(i) Bill discounted but not matured,

(ii) Calls in advance,

(iii) Security deposits with telephone exchange.

(iv) Patents.

Item	Major Head	Sub-Head
Capital Work-in-Progress	Non-Current Assets	Fixed Assets- Capital Work-in-Progress
Provision for Warranties	Non-Current Liabilities	Long Term Provisions
Income Received in Advance	Current Liabilities	Other Current Liabilities
Capital Advances	Non-Current Assets	Long Term Loans & Advances