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.

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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